Kalshi appeals after federal judge sides with New York gambling regulators
Gothamist
Kalshi appeals after a federal judge denied its request to avoid New York gambling regulations.Summary
Kalshi, an online prediction market, sought a preliminary injunction to stay New York State Gaming Commission oversight, but a federal judge denied the request. The state’s attorneys general and governor argue that Kalshi’s contracts are essentially gambling and must be regulated under state law. Kalshi has appealed the decision, allowing it to continue operating in New York while the case proceeds. The dispute reflects a broader clash between state regulators and federal agencies over jurisdiction of prediction markets, with the Commodity Futures Trading Commission also suing the state for overstepping its authority.
(Source：Gothamist)