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January – Lucky Luciano is pardoned and released from jail by New York Governor Thomas Dewey, as part of an arrangement for Luciano providing intelligence during World War II, and deported to Sicily.
February 2–9 – Shortly before his deportation, federal authorities transfer Luciano from to Ellis Island where he remains until boarding the Laura Keene for Sicily.
June 24 – James M. Ragen is ambushed while stopped at Pershing Road and seriously wounded in the arms and legs by a shotgun blast from syndicate gunman, including William Block. Although beginning to recover from his wounds, he died from mercury poisoning on August 14. Although , a West Side illegal gambling racketeer and former member of Ragen's Colts along with Ragen, is indicted for his murder, the case is .
October – A conference is held in Havana, Cuba which is attended by syndicate leaders including Meyer Lansky and Luciano.
December 22 – The Havana Conference is held by the National Crime Syndicate, where the rivalry between Luciano and Vito Genovese is discussed (resulting in Luciano being elected Capo Di Tutti Cappi), as well discussions on the matter of Benjamin Siegel following the losses of the Las Vegas casino The Flamingo.
