A Nevada judge has slammed Kalshi with a sweeping preliminary injunction, forcing the platform to block all sports outcomes and entertainment contracts for state residents by May 4. The high-stakes ruling sends shockwaves through traders.
The CFTC filed a major lawsuit against Wisconsin today, asserting exclusive federal jurisdiction over event contracts and striking back against state efforts to impose gambling bans on regulated platforms.
New York Attorney General Letitia James has sued Coinbase Financial Markets and Gemini Titan, alleging their prediction market platforms function as unlicensed gambling operations in violation of state law.
Senator John Curtis is leading a bipartisan charge with the Prediction Markets Are Gambling Act, a bill that would classify sports betting-style contracts as gambling and restore state oversight.
In a tense Ninth Circuit hearing, Kalshi, Nadex, and Robinhood battled Nevada over CFTC exclusive jurisdiction on sports event contracts, with judges sharply questioning preemption of state gaming laws.
Minnesota lawmakers advanced a bipartisan bill that would ban sports prediction markets and pop culture event bets, targeting contracts on NBA games, MLB totals, and award shows with felony penalties.
Washington Attorney General Nick Brown has sued KalshiEx LLC for illegal gambling, alleging the popular online platform’s event contracts violate state law and exploit users through deceptive marketing practices.
A U.S. judge just issued a CFTC Arizona temporary restraining order, blocking state criminal charges against event contracts and delivering a major federal preemption victory under the Commodity Exchange Act.
In a landmark victory for federal authority, the CFTC won a temporary restraining order blocking Arizona’s criminal prosecution of KalshiEX LLC, halting state gambling charges against the regulated derivatives platform.
In a landmark victory for prediction markets, the Third U.S. Circuit Court of Appeals upheld preliminary injunctive relief Monday, allowing Kalshi to continue offering event contracts under exclusive CFTC jurisdiction and blocking New Jersey enforcement.
