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The Cambodian-based real estate conglomerate Lixin Group has been allegedly linked with illegal gambling operations and online gambling scams, as detailed in a report by the Organized Crime and Corruption Reporting Project (OCCRP).
Lixin have been found guilty of targeting people outside Cambodia by forcing people to invest in fraudulent crypto and stock schemes.

Lixin Group has grown into a major conglomerate with business interests stretching from the Mekong to the Black Sea. But evidence collected by OCCRP suggests that it has a darker side.https://t.co/2k8OyVpeLd
— Organized Crime and Corruption Reporting Project (@OCCRP) January 21, 2026

In April 2025, a report from the UN Office claimed that there was an organized criminal enterprise based in the Mekong region, which was engaging in both drug trafficking and, more importantly, cyber fraud.
Sources who prepared this document then confirmed to the OCCRP that Lixin Group was the network being referred to.
Lixin denied these allegations, of course and while they were not named as a defendant in this particular lawsuit, the company did funnel proceeds from their fraudulent schemes into various real estate investments within Cambodia.
Lixin Group deny wrongdoing in cyber fraud or illegal gambling operations
Grant Tao, a representative of Lixin Group, claimed that the company was “unaware of the report” but did deny any wrongdoing.
“If the client confirms that BG2 in the U.N. report is alluding to Lixin Group, the client will contact the relevant U.N. departments and submit relevant evidence to explain the situation and clarify the facts,” he said to OCCRP.
According to the two court judgments that were obtained by OCCRP, the Chinese employees at the company managed to successfully lure victims into chat groups.
When in these groups, others involved in the fraud pretended to be successful investors.
The victims who invested money into these fraudulent crypto schemes or fake stocks saw money frozen or siphoned off into other avenues.
Fake gambling platforms were also used as part of the operation, with victims losing their money after an initial winning streak got them hooked.
These scams are becoming more and more abundant in Southeast Asia. Indeed, according to a report by the United Nations,  between $18 billion-$37 billion was lost in 2023 alone to fraudulent gambling operations within the region. Over the past few weeks, Cambodia handed over billionaire businessman Chen Zhi to China, where authorities say he was behind a massive scam operation tied to cryptocurrency schemes, illegal gambling, and even labor camps.
Featured Image: Lixin Group via YouTube
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The battle against state gaming commissions and prediction markets wages on, as Nevada gaming regulators have filed a motion for a temporary restraining order (TRO) and preliminary injunction against Polymarket.
In the filing, it states: “The BOARD seeks to restrain and enjoin POLYMARKET and any of its agents, employees, officers, or affiliates from operating a derivatives exchange and prediction market (“market”) that offers event-based contracts relating to sporting and other events to people…”

NEW: Nevada files motion for TRO and preliminary injunction against Polymarket, seeks order enjoining Polymarket and its agents and affiliates from offering event-based contracts relating to sporting and other events to persons located in NV without obtaining required licensure. pic.twitter.com/TRUktTLbBw
— Daniel Wallach (@WALLACHLEGAL) January 21, 2026

In a press release by the Nevada Gaming Control Board, published earlier, on January 16, they state that “Polymarket operates a derivatives exchange and prediction market where it offers event contracts for sale. These products are offered for sale on Polymarket’s mobile app and are made available to people in Nevada.
“The Board considers offering sports event contracts, or certain other events contracts, to constitute wagering activity under NRS 463.0193 and 463.01962 and, therefore, entities offering such event contracts must be licensed.”
They also continue to allege they believe Polymarket’s operations to be unlawful in the state of Nevada. In their statement, they express how the “gaming industry is vitally important to the economy of the state and the general welfare of the inhabitants and therefore must be licensed, controlled, and assisted to protect the public health, safety, morals, good order, and general welfare of the inhabitants of the State.”
Prediction markets continue to face obstacles in several states
Several states have been taking aim at prediction markets, with these still being relatively new to the industry. Just last week, Tennessee sent three cease-and-desist letters to Kalshi, Polymarket, and Crypto.com and they demanded an immediate end to operations.
Back in Nevada, they have previously taken similar actions against DraftKings and Flutter’s prediction markets as they stripped them of their licenses. In Massachusetts, an injunction has recently been granted against the prediction market Kalshi.
The future of the industry may soon start to see changes too, as the Commodity Futures Trading Commission (CFTC) Chairman Mike Selig has announced a review and modernization of financial market regulation, including embracing prediction markets.
Featured Image: Via Famartin on Wikimedia Commons, CC 4.0
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Just days after California police officers removed new gambling machines from Santa Anita Park, the Los Angeles Turf Club (LATC), which operates the racecourse, has filed a writ of mandate against the California Department of Justice (DOJ).
It was on January 15 when the horse-racing location installed 26 new gambling machines, but they were removed by police officers from the state Department of Justice shortly after.

Unsurprisingly, Santa Anita has filed suit against Rob Bonta’s office for what it claims was an unconstitutional seizure of 26 HHR machines https://t.co/KRLlmkgiEn
— Jessica Welman (@jesswelman) January 21, 2026

This was reported to be due to the machines being considered to be in breach of California’s exclusive tribal gaming rights laws. The raid is described, however, within the filing, to have taken place “without warning or a warrant” on January 17, 2026.
In the lawsuit, which has been seen by ReadWrite, the LATC states they are seeking the return of the self-service tote terminals which were seized by the DOJ. They are also seeking a declaration prohibiting DOJ, or any other state agency, from causing the destruction of those terminals.
Los Angeles Turf Club, which operates Santa Anita Park, is seeking return of self-service betting machines
The 52-page filing starts by alleging the respondents “unlawfully seized equipment belonging to Petitioner, which operates Santa Anita Park.”
It continues to say: “This Petition is necessitated by Respondents’ wrongful conduct and their refusal, both before the raid and in the days since, to provide any legal basis or explanation for their warrantless seizure of Petitioner’s property, which Respondents have threatened to destroy.”
Santa Anita Park has been a site of horse racing since 1934 and the lawsuit suggests thoroughbred horse racing in the State of California generates around $1.7 billion in annual economic impact for local communities, with 26,000 jobs also supported.
According to the petitioner in the filing, the self-service tote terminals offered a 3 x 3 wager on concluded thorough bred horse races, with these allowing for patrons to view handicapping information prior to making a wager. They suggest the rollout of the terminals followed a lengthy period of discussion between various California government agencies.
They also allege they have not received any statement of the DOJ’s position other than a form notice provided to Santa Anita Park employees at the conclusion of the DOJ’s seizure.
With the legislation recently being filed, all eyes will now be on the California Department of Justice to make the next move.
Featured Image: Credit to Lisa Andres on Wikimedia Commons, CC 2.0
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