Massachusetts Judge Christopher Barry-Smith ruled that the state is entitled to a preliminary injunction barring Kalshi from offering sports event contracts without a licence under the Sports Wagering Law. He also denied Kalshi’s motion to dismiss; the ruling is preliminary, and the case remains ongoing.
The ruling may restrict Kalshi’s sports markets in Massachusetts while the state’s case proceeds.
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A Connecticut judge denied Kalshi's motion for a preliminary injunction. Judge Vernon D. Oliver ruled that sports-event contracts are not swaps under the Commodity Exchange Act and compared parlays with casino gaming.
A federal judge in Nevada ruled that Kalshi’s sports-event contracts must comply with state gaming regulations and lifted an injunction that had barred enforcement, reportedly finding the contracts were wagers tied to sporting outcomes. Kalshi filed an appeal the following day with the Ninth Circuit, seeking to overturn the ruling.
A federal judge granted a joint request by Novig and Massachusetts officials to pause litigation over Novig’s sports-related event contracts. The stay lasts until the Massachusetts Supreme Judicial Court rules on Kalshi’s appeal; separately, Novig and New Mexico officials requested a stay of their case until 13 August 2027.
Nevada representative Dina Titus has proposed the Fair Markets and Sports Integrity Act to bar federally regulated exchanges from listing contracts tied to sports contests and similar outcomes, according to the report. She argues prediction markets avoid obligations applied to licensed gambling operators; the CFTC has opposed state efforts to regulate the platforms.
Senators Adam Schiff and John Curtis plan to introduce legislation restricting prediction-market firms overseen by the CFTC from listing sports-event contracts and specified casino-style products in the US, according to reports. The proposal reflects concerns from lawmakers about state safeguards and the federal regulator’s authority over event-based derivatives.