A significant lawsuit has been filed in the state of New York against a company called Kalshi. The lawsuit accuses Kalshi of operating illegally. The state's action against the company is potentially very large, with a value of $36 billion.

Kalshi is described as a prediction-market giant, but details of the company's operations are not provided here. Further information about the lawsuit and the allegations against Kalshi can be found in the original report from the Galveston County Daily News.