By SectorWire desk ·
The report said that Dillon Borgida announced a new appointment at Kalshi. Borgida previously worked at Underdog.
Kalshi adds an executive with experience at Underdog.
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The suit contests state authority over Underdog’s prediction market and follows a ruling against Kalshi.
FanDuel and DraftKings face competition from Kalshi and Polymarket for sports betting customers as the NFL season approaches.
State regulators argue sports contracts require gambling licences, challenging platforms operating under CFTC oversight with substantial sports trading activity.
The injunction request contests Tennessee’s application of wagering laws to Underdog’s event-contract exchange.
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.