New York doesn’t want to sue prediction markets—it wants to absorb them

A staffer pretending to be 15 logged onto an online gaming site and began placing bets. For days, nothing stopped him. No warning, no verification, no barrier. Only after he won a $75 gift card did the platform ask his age.

For New York State Senator Joseph Addabbo Jr., the episode crystallized what he sees as a dangerous gap in oversight.

“It is gambling,” he told ReadWrite. “Whenever an individual has an opportunity of putting up money with the potential of gaining money…...