News categoryLegal News & Updates

Tennessee is the seventh state Underdog has sued over sports event contracts. This time, it is fighting in a jurisdiction where an appeals court has already rejected Kalshi’s central argument.

A speculative look at how a decision not to review Kalshi’s cases could affect prediction-market operators, CFTC policy, state gambling laws and congressional lobbying.

Kalshi follows pattern from unfavorable ruling at the Ninth Circuit with en banc re-hearing request at the Sixth Circuit.

New rule stresses that gambling products aren't swaps, unless the CFTC says they are, which makes them not gambling.

Lawsuit in state court alleges that sports event contracts on DKeX violate Florida's gambling laws and the Seminole Tribe's gaming compact.

Prediction market platforms have stopped allowing people in the state to trade on sports events to comply with demands from gambling regulators who said that activity is illegal.

A federal judge granted Kalshi and Coinbase partial injunctions against Illinois, finding state licensing rules likely conflict with federal law. Wagering fees remain under review. The ruling conflicts with a Wisconsin decision now on appeal to the Seventh Circuit.

The Sixth Circuit ruled that Ohio and Tennessee can enforce their gambling laws against Kalshi’s sports contracts, deepening the appellate split now headed toward the Supreme Court.

New York sued Polymarket US on September 24, alleging its event contracts violate state gambling law. Polymarket removed the case to federal court; no merits ruling has been issued.

Missouri Attorney General Catherine Hanaway has ordered six prediction market exchanges to stop offering sports event contracts to people in the state.

Days after losing a tribal gaming ruling in California, Kalshi is powering what the Tunica-Biloxi Tribe of Louisiana calls the first tribal prediction market app.

Kalshi and Montana officials have reached agreement on a motion to dismiss the company’s lawsuit in exchange for non-action promises from gambling regulators.

Days after the CLARITY Act failed a Senate cloture vote, the SEC issued an exemption letting qualifying venues trade tokenized stocks on-chain without registering.

The Ninth Circuit found two California tribes likely to win their case against Kalshi and Robinhood sports contracts on tribal lands, reversing part of a lower-court ruling.

Hearing follows judge change in Underdog lawsuit against Washington authorities and Arizona officials asking the Ninth Circuit to lift their injunction.

The American Gaming Association opposed the CFTC's request to block New York's enforcement against prediction markets, a case over state versus federal authority.

Connecticut regulators sent cease-and-desist orders on sports contracts to nine exchanges, including Polymarket, and subpoenas to service providers, media and app-store firms.

Kalshi asked the full Ninth Circuit to rehear its Nevada loss, while Robinhood asked the Supreme Court to review the same ruling, joining New Jersey's petition.

The Tenth Circuit ruled Utah may enforce its gambling laws against Kalshi's sports contracts, another appellate loss as New Jersey asks the Supreme Court to decide.

Robinhood will stop offering new sports contracts to Michigan customers and close open positions, extending the state's crackdown beyond Kalshi.