Federal judge rejects Kalshi bid blocking New York sports betting enforcement challenge

A federal judge has refused to stop New York regulators from enforcing the state’s sports gambling laws against Kalshi, handing the prediction market operator another setback in its fight over whether federally regulated event contracts can sidestep state gaming rules. In a 22-page opinion issued Tuesday (July 7), U.S. District Judge Analisa Torres found Kalshi had not shown it was likely to prevail on its argument that the Commodity Exchange Act overrides New York’s gambling laws.