By SectorWire desk ·
The report said that Judge Vernon D. Oliver refused Kalshi’s preliminary injunction request against Connecticut. He found the operator’s sports event contracts were not swaps under federal commodities law.
The refusal denies Kalshi the requested temporary protection against state gambling law enforcement.
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The decisions deny the operators the preliminary protection they sought against state gambling regulation.
Connecticut can enforce its gambling laws against Kalshi following the rejection of emergency relief pending appeal.
The decision rejects Kalshi’s requested protection from Connecticut’s gambling-law enforcement.
For prediction market operators, federal intervention challenges Connecticut’s enforcement measures, while Robinhood seeks to join the proceedings.
The dispute concerns whether states can apply gambling rules to sports-event contracts offered by federally regulated exchanges.
The findings bear on state challenges to Kalshi and Polymarket's position that their contracts fall exclusively under CFTC jurisdiction.