Illinois judge blocks state gambling rules against Kalshi during court case
A federal judge in Illinois ruled on 2 October that the state cannot enforce several gambling laws against Kalshi while the case proceeds, according to press reports. The judge found Kalshi’s contracts are likely swaps under federal law and that state licensing rules are likely pre-empted, but deferred a decision on fees. The ruling is not final.
The order temporarily limits Illinois enforcement against Kalshi while the court considers the reach of state rules over prediction markets.