Operator v. state
KalshiEX LLC v. Cafferelli
U.S. District Court for the District of Connecticut, 3:25-cv-02016
Injunction denied
Judge Vernon D. Oliver denied the PI (signed Aug. 7, 2026, entered Aug. 10, 2026) and denied an injunction pending appeal on Aug. 15, 2026; the case is paused during the appeal.
The question
Whether the Commodity Exchange Act preempts Connecticut gambling or sports-wagering law as applied to event contracts listed on a CFTC-designated contract market.
Kalshi sued a day after Connecticut's Department of Consumer Protection sent it a cease-and-desist letter. The state agreed not to enforce while the PI motion was pending; after argument in February 2026, the court denied relief in August.
Docket timeline
Injunction pending appeal denied.
Source: vultax.com
Appeal docketed (No. 26-2239).
Source: dockets.justia.com
PI denial signed (entered Aug. 10, 2026).
Source: vultax.com
PI hearing.
Source: dockets.justia.com
Stipulated order: no enforcement while the PI motion is pending.
Source: dockets.justia.com
Complaint filed (cease-and-desist letter dated Dec. 2, 2025).
Source: dockets.justia.com