Blakeman calls Kalshi lawsuit "hypocritical," says Hochul walked away from deal he pegs at $10B over five years

Campaigning in Albany Aug. 5, Blakeman attacked the state's lawsuit against prediction-market platform Kalshi, arguing Hochul should have accepted a proposed settlement — a 6% tax on prediction-market trades that, per Wall Street Journal reporting cited by Blakeman, could have generated $10B over five years. He called the suit hypocritical given last year's casino approvals and framed prediction markets as personal choice. Hochul's office responded that Kalshi "blatantly violated state law," put consumers including minors at risk, and that "weak attempts to self-regulate are meaningless." The suit seeks fines and restitution that could total $36B.

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