Federal judge denies Kalshi’s bid to block New York gambling law enforcement
The Block·
60-second summary
A federal judge has denied Kalshi's request to block New York's enforcement of its gambling laws, ruling that the state's regulations on sports-event contracts are not preempted by the federal Commodity Exchange Act. This decision affects Kalshi's operations, potentially limiting its ability to offer certain types of contracts.
The judge said New York gambling laws, as applied to Kalshi's sports-event contracts, are not preempted by the federal Commodity Exchange Act.