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Operator v. state
U.S. District Court for the District of Maryland, 1:25-cv-01283
Injunction denied
Judge Adam B. Abelson denied Kalshi a preliminary injunction on Aug. 1, 2025. Maryland then gave written assurance that it would not enforce against Kalshi while the appeal is pending. The appeal (4th Cir. No. 25-1892) was argued May 7, 2026 and is undecided.
The question
Whether the Commodity Exchange Act preempts Maryland gambling or sports-wagering law as applied to event contracts listed on a CFTC-designated contract market.
Kalshi sued Maryland's gaming regulators to stop enforcement of state gaming law against its sports event contracts. The court declined to enjoin the state, the first such loss for Kalshi in federal court, and Kalshi appealed.
No decision date set168 days since argument
Argued May 7Pending
Resolves Yes if the court reverses or vacates the denial of Kalshi's preliminary injunction in KalshiEX v. Martin, No if it affirms.
Fourth Circuit No. 25-1892. Source: Court docket
Kalshi withdraws its motion for an injunction pending appeal after Maryland's counsel gave written assurance (Aug. 12, 2025) that the state would not enforce against Kalshi while the Fourth Circuit appeal is pending.
Source: sportsbettingdime.com
Kalshi's appeal docketed in the Fourth Circuit.
Source: dockets.justia.com
Judge Adam B. Abelson denies Kalshi's preliminary-injunction motion, finding no likelihood of success on preemption.
Source: ingame.com
Complaint filed.
Source: dockets.justia.com