By SectorWire desk ·
Judge Vernon D. Oliver denied Kalshi’s request for a preliminary injunction in Connecticut. He ruled that sports-event contracts were not swaps under the Commodity Exchange Act and compared parlays with casino gaming.
The decision rejects Kalshi’s requested protection from Connecticut’s gambling-law enforcement.
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The decision leaves Connecticut’s attempt to apply gambling laws unhalted by the requested injunction.
The decision denies Kalshi the requested protection from Connecticut’s gambling-law enforcement.
Connecticut can enforce its gambling laws against Kalshi following the rejection of emergency relief pending appeal.
The refusal denies Kalshi the requested temporary protection against state gambling law enforcement.
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.