U.S. District Judge Katherine Menendez enjoined Minnesota Statute 609.7615 on July 27, five days before its Aug. 1 effective date. The order protects only CFTC-registered exchanges and found the state law likely preempted for contracts qualifying as federal swaps. Kalshi told the court it had … Read more
Washington won a preliminary injunction against Kalshi in a King County Superior Court order filed July 20. The order holds the Commodity Exchange Act does not preempt Washington gambling law on express, field or conflict grounds. It reads federal law to allow event contracts to … Read more
WASHINGTON – On the morning of May 14, 2018, the Supreme Court of the United States handed down Murphy v. NCAA and ended Nevada’s 26-year monopoly on legal sports betting. Eight years later, questions surrounding who would profit and under what rules have been answered… … Read more
Kalshi took the unusual step of suing Utah first, using public threats from state officials as grounds that enforcement was on the way. Utah is pushing back through public statements, HB243, and a governor determined to keep prediction markets out of the state. The conflict … Read more
The NFL urged Congress to address prediction markets operating in all 50 states without the regulatory oversight that governs legal sports betting. League officials warned that prediction markets could handle significantly larger wagering amounts than traditional sportsbooks while lacking proper integrity protections. The NFL called … Read more
Kalshi’s attempt to expand its federally regulated sports event contracts into Maryland has hit a legal roadblock. A U.S. District Court judge denied the company’s request for a preliminary injunction, ruling that Kalshi failed to show that federal commodities law overrides state gambling regulation. The … Read more
The CFTC is cracking down on sports-related prediction markets, forcing Robinhood Derivatives to halt its Super Bowl betting contracts and investigating platforms like Crypto.com and Kalshi. If the CFTC rules against these platforms, bettors could see their Super Bowl 59 wagers frozen, refunded, or voided … Read more