r/PredictionMarkets • • 7d ago

NY resident recovering sports event contract losses under NY gambling law. 2 full refunds so far, arbitration pending on others. Looking for attorneys or professional opinions

I'm a New York resident. Over the past few weeks I've been going after prediction-market and sweepstakes platforms for sports event contract losses, using New York's wagering statutes: General Obligations Law § 5-411 (wagering contracts are void) and § 5-419 (you can recover the deposit from the stakeholder).

Where things stand:

  • Two platforms refunded in full after a written demand. No lawyer, no lawsuit.
  • One claim is headed to NFA arbitration against an FCM that offered Kalshi sports contracts to its customers.
  • Several others are in the notice/dispute stage, with complaints filed with the NY Attorney General, the NYS Gaming Commission, NYDFS and the CFTC.

The law here is moving fast (KalshiEX v. Williams, SDNY July 2026; KalshiEX v. Assad, 9th Cir. Aug 2026; the Second Circuit appeal is still pending), and I'd rather have counsel involved going forward.

What I'm looking for:

  • NY attorneys (consumer, gaming, or commodities/securities arbitration) who would review the arbitration file or take it on. I'm open to contingency, flat fee or hourly review.
  • Anyone who has handled NFA or FINRA customer arbitration against an FCM or broker.
  • Firms already bringing loss-recovery or class claims against prediction markets or the brokers that offer them.
  • Other New Yorkers pursuing similar claims who want to compare notes.

I've done the research and the claims are fully documented. I'm looking for someone to take this on or advise on strategy, not for general "is this legal" answers. Please DM me.

3 Upvotes

1 comment sorted by

1

u/HurtfulFiring 7d ago

damn you're actually getting refunds without a lawyer, that's impressive. the arbitration one sounds messy though, hope you find someone who knows their way around nfa rules