Third Circuit upholds Kalshi injunction in New Jersey sports markets case
The US Court of Appeals for the Third Circuit upheld a preliminary injunction allowing Kalshi to continue offering sports markets in New Jersey. Two of the three judges found Kalshi was likely to succeed in arguing that federal law pre-empts state gambling law; the ruling does not finally determine the markets’ legality. New Jersey could seek a rehearing or appeal, according to the report.
The injunction lets Kalshi continue offering New Jersey sports markets, but the unresolved legality leaves operators and regulators facing uncertainty.