New York Attorney General warns of sports betting and prediction markets harms ahead of Super Bowl

New York Attorney General Letitia James has issued her thoughts on the harms that sports betting and prediction markets can bring ahead of the Super Bowl.

The leading legal light in the Big Apple has stated that betting on sports and outcomes can pose a serious financial risk to vulnerable individuals.

Attorney General James issues sports betting warning

The post from the office of the Attorney General was labeled a “consumer alert” about the financial pitfalls that could befall NY bettors.

In a post via X, James also underlined the stance her office held in light of the Super Bowl, saying, “I’m warning New Yorkers about the risks of the prediction market industry. This industry doesn’t have the same consumer protections as regulated platforms.”

Ahead of the Super Bowl, I'm warning New Yorkers about the risks of the prediction market industry. 
 
This industry doesn't have the same consumer protections as regulated platforms.

— NY AG James (@NewYorkStateAG) February 2, 2026

In related news, we reported that Governor Kathy Hochul outlined more than 200 initiatives, including gambling-related measures, earning high praise from Brian O’Dwyer, Chair of the New York State Gaming Commission.

O’Dwyer said the New York State Gaming Commission “fully supports and applauds Governor Hochul’s commitment to protect New Yorkers, including safeguards to prevent underage individuals from gambling and employing innovative tech to identify and help those who may be experiencing gambling harms.”

Governor Hochul said as part of her State of the State address, “These actions will protect young people from the harms of online betting, which include significant financial loss and addictive behavior.”

James is keen to highlight the criminal penalties for breaches of NY law

In a continuing social media post, James said, “I’m also warning the prediction market industry that unlicensed sports wagering violates New York’s laws and could face civil and criminal liability. My office will always defend New Yorkers and enforce the laws of our state.”

James added that the financial industry is beginning to flag the debt-related risks of problem gambling, including credit overextension and rising loan defaults.

Bettors within state limits have also been asked to verify the list of New York State Gaming Commission-approved and licensed operators before opening an account.

The Attorney General was stark, saying, “Avoid risking money you cannot afford to lose. Treat these prediction markets as high-risk—no guarantee of returns, and no guarantee of access to your funds.”

Featured image: Attorney General Letitia James via X

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