By SectorWire desk ·
The report said that Judge Vernon Oliver refused Kalshi’s request for preliminary protection from Connecticut gambling laws. He regarded sports contracts as wagers, while Kalshi argued federal commodities law displaced state oversight.
The decision denies Kalshi the 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 rejects Kalshi’s requested protection from Connecticut’s 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.
The analysis questions Kalshi’s explanation for concentrated activity in its ether perpetual contracts.
The new contracts allow partial settlement rather than requiring players to reach the full statistical target.