Kalshi tried to ignore gambling laws on its prediction market, NY governor says.

A federal judge denied Kalshi's preliminary injunction in New York, deepening a circuit split over whether prediction markets are financial products or

Judge Analisa Torres of Ripple fame denied Kalshi a preliminary injunction, finding NY gambling laws aren't preempted by the Commodity Exchange Act.

The judge said New York gambling laws, as applied to Kalshi's sports-event contracts, are not preempted by the federal Commodity Exchange Act.

Kalshi appealed after a New York federal judge refused to block state gambling officials from enforcing local laws against its sports event contracts.

NEW YORK, July 8 : A federal judge denied Kalshi's bid to block New York from enforcing its gambling laws against the prediction markets platform, amid a growing battle between…

Federal judge denies Kalshi's preliminary injunction against New York gambling law, ruling the Commodity Exchange Act doesn't preempt state regulations.

In a decision on Tuesday, US District Judge Analisa Torres in Manhattan said Kalshi did not deserve a preliminary injunction, because the federal Commodity Exchange Act did not…

Kalshi tried to ignore gambling laws on its prediction market, NY governor says.