All posts tagged: Kalshis

New Jersey cannot regulate Kalshi’s prediction market, US appeals court rules

New Jersey cannot regulate Kalshi’s prediction market, US appeals court rules

Published by Sam Flores

April 6 : A federal appeals court ruled on Monday that New Jersey gaming regulators cannot prevent Kalshi from allowing people in the state to use its prediction market to place financial bets on the outcome of sporting events. A three-judge panel of the Philadelphia-based 3rd U.S. Circuit Court of Appeals ruled 2-1 in finding that the U.S. Commodity Futures Trading Commission has exclusive jurisdiction over the sports-related event contracts that Kalshi allows people to trade on its platform. The ruling marked the first time a federal appeals court has ruled on what has become the central issue in an escalating battle over the ability of state gaming regulators to police the activity of prediction market operators. “This is a big win for the industry and millions of users,” Kalshi CEO Tarek Mansour said in a social media post on X. Kalshi and companies like it allow users to place trades and profit from predictions on events such as sports and elections. States argue that firms like Kalshi are operating without required state licenses, in …

Federal judge denies Kalshi’s emergency request in Arizona as state brings unprecedented criminal case

Federal judge denies Kalshi’s emergency request in Arizona as state brings unprecedented criminal case

Published by skeptic

A federal judge in Arizona has rejected an emergency attempt by prediction market operator Kalshi to stop criminal enforcement actions from state regulators, intensifying a growing legal battle. In a ruling issued Tuesday (March 17), U.S. District Judge Michael T. Liburdi turned down Kalshi’s request for a temporary restraining order that would have immediately blocked Arizona authorities from pursuing action against the company.  The overarching lawsuit, however, is still moving ahead. The court has set a hearing for April 3, 2026 to consider Kalshi’s request for a preliminary injunction. Federal judge in Arizona denies #Kalshi’s request for a temporary restraining order against AG, who has filed criminal charges – the first of its kind; injunction hearing set for Apr. 3. @RWW pic.twitter.com/lK4Iz7kRyP — Suswati Basu (@suswatibasu) March 17, 2026 But Liburdi’s order raised another issue that could prove even more important i.e. whether the federal court should pause the case because Arizona prosecutors have already filed criminal charges. “The Younger abstention doctrine provides that federal courts are not to interfere with pending state criminal proceedings,” …

Kalshi’s legal troubles pile up, as Arizona files first ever criminal charges over ‘illegal gambling business’

Kalshi’s legal troubles pile up, as Arizona files first ever criminal charges over ‘illegal gambling business’

Published by skeptic

Arizona Attorney General Kris Mayes has filed criminal charges against prediction market platform Kalshi, for allegedly operating an illegal gambling business in the state without a license and for election wagering. The 20-count complaint, filed in Maricopa County court on Tuesday, accuses the company of engaging in unlicensed gambling activities, claiming that the site “accepted bets from Arizona residents on a wide range of events,” including state elections, a practice that is illegal in Arizona. The complaint charged Kalshi with four counts of election wagering for accepting bets from Arizona residents on the 2028 presidential race, the 2026 Arizona gubernatorial race, the 2026 Arizona Republican gubernatorial primary, and the 2026 Arizona Secretary of State race. This is the first time a state has pursued such charges against the company, according to the Arizona Mirror, and marks a significant escalation in the battle between states and the prediction market industry. “Kalshi may brand itself as a ‘prediction market,’ but what it’s actually doing is running an illegal gambling operation and taking bets on Arizona elections, both …

CFTC complaint filed after Kalshi’s Cardi B Super Bowl event decision – report

CFTC complaint filed after Kalshi’s Cardi B Super Bowl event decision – report

Published by skeptic

Kalshi users have been left outraged after a decision from the prediction market regarding Cardi B’s Super Bowl appearance. At least one Commodity Futures Trading Commission (CFTC) has reportedly been filed after Kalshi’s controversial Super Bowl LX decision. Prediction market expert Dustin Gouker has shared that at least one person has filed a formal complaint to the CFTC. This may spark a review by the CFTC and possibly further investigation and penalties if deemed necessary. Depending on which prediction market was used, those who wagered on Cardi B making an appearance at the Super Bowl LX Halftime Show have had different outcomes. Polymarket settled the event contract in favor of those who bet that she would appear, but fellow prediction market Kalshi has invoked Rule 6.3 to only issue a partial settlement. This has triggered both outrage on social media and the formal complaint to the CFTC. Kalshi has cited ambiguity over whether Cardi B only appearing to dance qualifies as a performance, or whether she needed to actually sing. Kalshi’s controversial partial settlement on …