New Jersey judge rules Kalshi sports contracts fall under federal jurisdiction
A New Jersey judge ruled that the CFTC has exclusive jurisdiction over Kalshi’s sports contracts, allowing the platform to continue operating in the state while the case proceeds. The ruling followed the New Jersey Gaming Commission’s position that the contracts were illegal sports betting and its resulting prohibition; Kalshi argued they were financial products.
The ruling affects whether Kalshi’s sports contracts face state gambling restrictions in New Jersey while litigation continues.