Legal News & Updates

Ongoing coverage of the legal and regulatory fights shaping US prediction markets, including CFTC actions, state challenges and court battles as they develop.

judges gavel in front of courthouse next to figure of Minnesota

Minnesota Sends Prediction Market Restrictions to Gov. Walz, Setting Up Legal Showdown

The Minnesota legislature has sent a bill that would ban prediction market trading and criminalize the operation of the exchanges to Gov. Tim...

Derek Helling

May 14, 2026

Wisconsin allows Ho Chunk Nation to pursue case against Kalshi

Legal News & Updates

Federal Court Grants Ho-Chunk Nation Leave to Pursue Claims Against Kalshi

The US Court for the Western District of Wisconsin denied Kalshi’s motion to dismiss the Ho-Chunk lawsuit regarding potential IGRA...

Derek Helling

May 12, 2026

scale on table in front of judicial bench in courtroom

Legal News & Updates

Fourth Circuit Panel Signals Doubts on Kalshi’s Injunction Request in Maryland

Oral arguments in federal and state courts involving Maryland and Massachusetts this week featured heavy skepticism of Kalshi’s claims about sports event contracts being out of reach of...

Derek Helling

May 8, 2026

Judge bars arizona from criminal case vs kalshi

Legal News & Updates

Federal Judge Permanently Blocks Arizona’s Criminal Case Against Kalshi on Preemption Grounds

An Arizona federal judge has permanently blocked the state from pursuing criminal charges against Kalshi, handing the CFTC a major win in its escalating battle to assert exclusive federal...

Valerie Cross

May 5, 2026

kalshi-sports-contract-cases-key-legal-questions

Legal News & Updates

Kalshi’s Sports Contract Cases Turn on Three Textual Hurdles: A Field Guide to Legal Fault Lines

A May 4 deadline looms for Kalshi to geofence Nevada after Carson City District Court Judge Jason Woodbury granted a preliminary injunction to the Nevada Gaming Control Board on April 28....

Valerie Cross

April 30, 2026

Legal News & Updates

CFTC Escalates Fight to Wisconsin, Raising Stakes for Seventh Circuit Review

The Commodity Futures Trading Commission (CFTC) released a statement on Tuesday announcing that it has filed a lawsuit in response to Wisconsin’s legal actions against the operators of...

Derek Helling

April 29, 2026

Legal News & Updates

CFTC Sues New York, Opening New Front in Prediction Markets Preemption Fight

Four federal circuit appeals courts have already weighed in, albeit in limited fashion, on the dispute over the classification of prediction markets and state sovereignty. Thanks to a new...

Derek Helling

April 27, 2026

Third Circuit signals tough path for kalshi

Legal News & Updates

Kalshi Loses Bid to Block Ohio Enforcement as Sixth Circuit Fast-Tracks Appeal

Kalshi will get its day in court at the Sixth Circuit to argue against Ohio officials’ attempts to enforce state gambling laws against its prediction market exchange. Kalshi’s petition...

Derek Helling

April 27, 2026

Wisconsin filed lawsuits against prediction market platforms and their partners, seeking to block sports event contracts the state says function as illegal sports betting

Legal News & Updates

Wisconsin Sues Kalshi, Polymarket, Crypto.com Over Sports Contracts in ‘Race to the Courthouse’

The Wisconsin Department of Justice has filed a series of lawsuits against major prediction market operators and their distribution partners, alleging that sports event contracts offered by...

Mike Breen

April 23, 2026

New York Attorney General Letitia James has filed lawsuits against Coinbase and Gemini, alleging their prediction market offerings constitute illegal gambling under state law and seeking sweeping penalties

Legal News & Updates

New York AG Targets Lawsuits Against Coinbase and Gemini Prediction Markets

New York Attorney General Letitia James has filed civil enforcement actions against Coinbase Financial Markets and Gemini Titan, accusing both companies of operating unlicensed gambling...

Mike Breen

April 21, 2026

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