New Jersey filed its Kalshi Supreme Court petition Sept. 2, one day ahead of a twice-extended deadline. The Supreme Court docketed the case Sept. 8 as No. 26-299, with Kalshi’s response due Oct. 8. New Jersey warns that Kalshi’s legal theory would put state-licensed sportsbooks in violation of federal swaps law too. New Jersey counts … Read more
A Ninth Circuit panel ruled 3-0 that Nevada can enforce its gambling laws against Kalshi’s sports event contracts. Sports contracts made up more than 90% of Kalshi’s trades and 95% of its revenue in 2025, the court noted. The ruling conflicts with a Third Circuit decision favoring Kalshi, splitting the federal appeals courts on the … Read more
Judge William Griesbach denied the CFTC’s request for a preliminary injunction against Wisconsin in a 28-page decision filed July 29. The court said the agency is unlikely to prove sports event contracts are swaps or that federal law preempts Wisconsin’s gambling statute. Two days earlier the same federal plaintiffs won an injunction against Minnesota, splitting … Read more