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In addition to receiving cease-and-desist orders from several states (Arizona, Illinois, Montana, and Ohio), and ongoing litigation against New Jersey state gaming regulators in the U.S. Court of Appeals for the Third...more
Kalshi’s two-win streak ended with a preliminary loss in its lawsuit against Maryland gaming regulators—a shift from prior federal district court rulings and a win for states on the federal preemption issue at the center of...more
We have seen dramatic evolution across the gaming industry throughout 2025. There have been noteworthy legal and regulatory developments for lottery couriers, prediction markets, sweepstakes casinos, and sports betting...more
A lawsuit between KalshiEx LLC (Kalshi) and New Jersey state gaming regulators in the Third Circuit is testing the balance between federal commodities regulation and state authority regarding sports betting. Kalshi operates...more
On Jan. 17, 2025, the United States Court of Appeals for the District of Columbia (D.C. Circuit) heard oral argument in KalshiEx v. CFTC. At issue is KalshiEx LLC’s (Kalshi) ability to list political event contracts for...more