Key facts
- A federal judge denied Kalshi's request to block New York from enforcing gambling laws.
- The judge ruled that federal law does not supersede state gambling regulations.
- Kalshi operates a prediction markets platform.
- New York's gambling laws were cited in the ruling.
- Kalshi has appealed the federal judge's decision.
Kalshi, a platform for prediction markets, has had its bid to block New York from enforcing its gambling laws against the company denied by a federal judge. The judge ruled that federal law does not supersede state gambling regulations, meaning New York's gambling laws can be applied to Kalshi's operations. This decision impacts Kalshi's ability to offer its prediction market contracts within the state. In response to this ruling, Kalshi has filed an appeal. The company aims to overturn the decision and continue operating its prediction markets in New York, arguing for the legality and distinct nature of its services.