Operator v. state
KalshiEX LLC v. Knudsen
U.S. District Court for the District of Montana, 6:26-cv-00028
Dismissed
Dismissed: the parties filed a joint stipulation in mid-September 2026 and the court entered a dismissal order on Sept. 21, 2026 (Doc. 36). Under the stipulation as reported, the regulator defendants agreed not to bring or refer enforcement against Kalshi's DCM-listed event contracts until the Ninth Circuit's en banc process in Kalshi v. Assad ends, while the Attorney General kept independent enforcement authority; Kalshi dismissed the regulator defendants with prejudice.
The question
Whether the Commodity Exchange Act preempts Montana gambling or sports-wagering law as applied to event contracts listed on a CFTC-designated contract market.
Kalshi sued Montana officials after the state's gambling regulators sent cease-and-desist letters. The parties stipulated to dismissal in September 2026 under terms tied to the outcome of further review in the Ninth Circuit's Nevada case, Kalshi v. Assad.
Docket timeline
Order dismissing the case by stipulation.
Source: defirate.com
Joint stipulation of dismissal filed (date inferred from DeFi Rate's Sept. 18, 2026 report of a Thursday filing).
Source: defirate.com
Case reassigned to Judge Donald W. Molloy.
Source: dockets.justia.com
Case deadlines stayed on the parties' stipulated motion while they negotiate.
Source: dockets.justia.com
Complaint filed.
Source: dockets.justia.com