A judge rejects Kalshi’s attempt to undermine New York state gambling laws

Kalshi lost an attempt to violate New York’s gambling laws yesterday, with a federal judge rejecting the market trader’s request to block enforcement of the laws.

Kalshi is appealing the decision to the high court. This is one of many cases in which a jury must decide whether state laws are enforced by state laws on the prediction markets.

New York Governor Kathy Hochul and Attorney General Letitia James issued a shared knowledge at the verdict today. “New York’s gambling laws were designed to protect consumers,” they said. “Kalshi tried to ignore them. Yesterday, they failed in court. We will continue to maintain all platforms to challenge the law – and this includes the prediction markets.”

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