SectorWire
SearchGet the daily briefing
Menu

New York judge denies Kalshi bid to block state gambling enforcement

Regulation

A federal judge in New York denied Kalshi’s request for a temporary restraining order and preliminary injunction against state gambling enforcement over its sports-event contracts. The court found that federal law did not displace New York’s gambling authority; the case against individual commissioners can proceed, while the Gaming Commission was dismissed from the suit on immunity grounds.

The ruling leaves New York’s gambling laws applicable to Kalshi’s sports contracts while the remaining claims proceed.

Request a correction

Keep reading

Regulation

Illinois federal judge limits state gambling enforcement against Kalshi

A federal judge in Illinois partially maintained preliminary injunctions protecting Kalshi from state gambling enforcement on 2 October. The court found that federal law likely preempts state licensing requirements because Kalshi’s contracts likely qualify as swaps. The ruling remains preliminary, and the judge allowed further briefing on wager-related fees.

A federal judge in Illinois ruled on 2 October that the state likely cannot enforce several of its gambling laws against Kalshi while a case on prediction markets continues, keeping preliminary injunctions in place in part. US District Judge Martha M. Pacold found that Kalshi's event contracts are likely swaps under the Commodity Exchange Act, according to the opinion. The decision is not final.

Continue reading