Judge rejects Kalshi bid to block New York gambling enforcement law

A federal judge denied Kalshi’s request to block New York from enforcing its gambling laws against the prediction markets platform. The ruling intensifies the federal-vs-state regulatory fight over oversight of fast-growing prediction markets, likely increasing compliance and enforcement risk for the industry.

Analysis

A federal judge denied Kalshi’s request to block New York from enforcing its gambling laws against the prediction markets platform. The ruling intensifies the federal-vs-state regulatory fight over oversight of fast-growing prediction markets, likely increasing compliance and enforcement risk for the industry.