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- 1New York sues Polymarket over alleged illegal gambling●New York sues Polymarket, alleging 'illegal gambling' Consumer adoption of online betting platforms was up 40% in July a
New York has filed a lawsuit against prediction market platform Polymarket, alleging it operates as illegal gambling. The legal action comes as online betting adoption surges: Bank of America consumer data shows platform usage rose 40% in July, with first-time use tripling since the start of the year. Regulators are increasingly scrutinising fast-growing betting and prediction platforms as mainstream consumer adoption accelerates.