"A New York man has filed a proposed class action lawsuit in federal court accusing the operators of the Polymarket website of running an illegal online sports gambling platform while presenting it as a lawful "prediction market." The complaint, filed February 4 in the U.S. District Court for the Southern District of New York, was brought by Lorenzo Miro San Diego. He says he is suing on his own behalf and on behalf of others who used the platform."
"The complaint says the site is marketed as a "prediction market," but in practice functions as an unlicensed sports betting operation that runs afoul of state gambling laws. In a section titled "Nature of the Case," the complaint says the dispute stems from the defendants' operation of an online platform that lets users wager on the outcomes of sporting events and other real-world events. The plaintiff argues that this activity is illegal sports gambling, not lawful prediction market participation."
A proposed federal class action was filed on February 4 in the U.S. District Court for the Southern District of New York by Lorenzo Miro San Diego, who seeks to represent users of Polymarket. The complaint names Blockratize, Adventure One QSS and QCX LLC as defendants and requests class certification and a jury trial. The filing alleges Polymarket markets itself as a prediction market but operates as an unlicensed sports betting platform that violates state gambling laws. The complaint states the platform permits wagering on sporting and other real-world events and that the site's presentation masks the unlawful nature of the activity. Relief is sought for San Diego and similarly situated users.
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