Kalshi bets big on NY with $3M Housing Works donation despite legal battle with Gov. Hochul

Kalshi is betting on New York!Kalshi is donating a whopping $3 million to nonprofit Housing Works to expand healthcare for New Yorkers, despite being sued by Gov.Kathy Hochul and the state’s attorney general.The multi-year partnership will be the largest single-donor gift in Housing Works’ 36-year history and will expand access to healthcare, job training and community services for thousands of New Yorkers.The massive donation will center on Housing Works’ flagship clinic in East Harlem, the 125th Street Health Center, according to Kalshi, a prediction market platform based in New York City.The project will allow the center to serve more patients, help continuity of care for New Yorkers at risk of losing coverage, and expand comprehensive services regardless of patients’ ability to pay.

More than 500,000 New York City residents are without health insurance — That number is expected to surge in the next 18 months, according to Kalshi and Housing Works, a nonprofit launched during the AIDS crisis.“This is the largest charitable gift in Housing Works’ history.

We are proud that a New York-based company has chosen to invest in New York communities at a moment when the need for healthcare, workforce opportunities, and supportive services continues to grow,” Matthew Bernardo, President of Housing Works, said in a statement.“This partnership will help protect and expand services that thousands of New Yorkers rely on every year.”The multi-million dollar donation will also expand Housing Works’ “Ready for Work” vocational and job-training program, designed to help participants build key skills to find stable employment.Additionally, the partnership is slated to turn the nonprofit’s neighborhood retail locations into community outreach hubs.

Gov.Hochul and Attorney General Letitia James filed a lawsuit against Kalshi last month, accusing the federally regulated prediction market operator of running an illegal gambling business in the Empire ...