Kalshi files same-day appeal of NY court's rejection of bid to block state gambling law enforcement
Kalshi is appealing a Southern District of New York ruling that denied its request for a preliminary injunction against New York gambling regulators. Judge Analisa Torres found Kalshi had not made a clear showing that it was likely to win its claim that New York’s sports-betting laws are preempted by the federal Commodity Exchange Act. The decision keeps open enforcement against Kalshi’s sports-related event contracts. The case is part of a broader fight over whether sports prediction markets are federally regulated derivatives or state-regulated gambling. Courts have split on similar challenges, with some granting Kalshi relief and others rejecting it. The dispute is spreading as states including Illinois, Wisconsin, Nevada, Connecticut, and others pursue enforcement actions, while the CFTC has backed Kalshi in related litigation.
