US District Judge Colleen McMahon ruled that Novig’s sports-event contracts are betting rather than swaps, allowing New York to require a gambling licence or stop the contracts being traded. Novig appealed the decision to the Second Circuit on the same day.
The ruling exposes Novig’s New York operations to state licensing requirements despite its federally designated exchange status.
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US District Judge Jacqueline Scott Corley granted a preliminary injunction in Blue Lake Rancheria v. Kalshi in California on Wednesday. The order bars Kalshi from offering sports contracts on the plaintiff tribes’ lands and requires the tribes to provide boundary maps by 13 November; Kalshi must report its compliance steps within 21 days.
A San Francisco federal judge has blocked Kalshi from listing sports event contracts on land belonging to the California tribes that are suing it. Judge Jacqueline Scott Corley, who sits in the Northern District of California, granted the tribes a preliminary injunction on Wednesday in the case Blue Lake Rancheria v. Kalshi.
US District Judge Lorna G. Schofield questioned the CFTC's prospects of securing a preliminary injunction to prevent New York from enforcing gambling laws against event-contract platforms. At a 14 September hearing, the agency argued that the contracts fall under its exclusive authority; New York, the American Gaming Association and 44 state attorneys general oppose that position. Federal appeals courts have issued conflicting rulings, and the Supreme Court has been asked to resolve the dispute.
An appeals judge has cleared New York to pursue Kalshi, in a week of prediction-market litigation that also included court updates from Nevada, Minnesota and Wisconsin. The report also cites consolidated oral arguments involving Ohio and Tennessee in the Sixth Circuit.
It was reported that a federal judge denied Kalshi’s bid for a preliminary injunction, finding federal commodities law did not override New York gambling law. Kalshi appealed to the Second Circuit the same day.
It was reported that a New York federal judge ordered Papaya Gaming to pay Skillz $719m plus legal fees. The decision upheld April’s jury findings on false advertising and consumer protection violations.