Kalshi sues New York state regulators to prohibit sports contracts

robot
Abstract generation in progress

According to Mars Finance, on October 28, CoinDesk reported that the prediction market platform Kalshi filed a federal lawsuit against the New York State Gaming Commission on October 28, 2025, challenging the state's decision to ban its sports-related contracts. Kalshi, as a CFTC registered designated contract market (DCM), claims that under the Commodity Exchange Act, the CFTC has “exclusive jurisdiction” over derivatives on federally regulated exchanges, and that New York's intervention violates federal law. Earlier this year, the company self-certified sports event contracts with the CFTC, allowing users to financially bet on the outcomes of games. Kalshi is seeking emergency relief to prevent New York from enforcing its cease and desist order, stating that failing to do so would cause irreparable harm to the platform and its users.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)