Judge rejects Kalshi’s motion for a preliminary injunction in New York
US District Judge Analisa Torres has denied the operator’s bid to block New York from enforcing its gambling laws against the platform.
US.- Kalshi’s attempt to prevent New York from enforcing gambling legislation against the prediction platform operator has been denied by US District Judge Analisa Torres in Manhattan. As reported by Reuters, Torres rejected Kalshi’s motion for a preliminary injunction, ruling that the federal Commodity Exchange Act does not supersede New York’s gambling laws as applied to the platform’s sports-event contracts.
Torres stated New York’s interests in preventing gambling addiction, preserving sports’ integrity and avoiding a proliferation of unregulated contracts “heavily” outweigh the company’s interests in ensuring the primacy of federal law.
Governor Kathy Hochul and New York Attorney General Letitia James have welcomed the ruling. They said in a joint statement: “New York’s gambling laws are designed to protect consumers. Kalshi tried to ignore them. Yesterday, they lost in court. We will continue to hold all gambling platforms accountable to the law — and that includes prediction markets.”
Elsewhere, Michigan Attorney General Dana Nessel has secured a temporary restraining order in the Ingham County Circuit Court preventing Kalshi from offering or advertising online sports wagers in the state.
