By SectorWire desk ·
The report said that Crypto.com’s OG prediction-market platform sued Washington in federal court. It seeks to prevent state enforcement after a judge granted Washington an injunction against Kalshi.
The lawsuit seeks protection for OG against prospective Washington enforcement.
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The ruling subjects disputed Nevada sports event contracts to gambling rules, while DraftKings and Flutter shares gained.
FanDuel and DraftKings face competition from Kalshi and Polymarket for sports betting customers as the NFL season approaches.
The Ninth Circuit upheld Nevada’s enforcement against Kalshi, rejecting federal financial regulation as protection from state gambling laws.
Kalshi faces a lawsuit seeking to stop its Connecticut sports contracts while contesting state gambling authority under federal oversight.
Kalshi is lobbying to maintain California platform access as DraftKings goes live in the state.
Operators seeking relief from state enforcement face federal appeals proceedings as the CFTC moves towards new sector rules.