Federal judge blocks Arizona gambling action against Kalshi in major prediction markets ruling

A federal judge in Arizona has temporarily blocked state officials from pursuing gambling enforcement against Kalshi, handing the prediction market company another important court victory as legal fights over event-based trading continue spreading nationwide. In a 17-page order released Tuesday, U.S. District Judge Michael Liburdi said federal commodities law likely takes priority over Arizona gambling rules when contracts are traded through exchanges overseen by the Commodity Futures Trading Co