Operator v. state
KalshiEX LLC v. Williams
U.S. Court of Appeals for the Second Circuit, 26-1835
Pending
Kalshi's brief filed Aug. 31, 2026; New York's brief due Oct. 30, 2026. To be heard in tandem with the Connecticut appeals (Nos. 26-2239, 26-2297). No argument date.
The question
Whether the Commodity Exchange Act preempts New York gambling or sports-wagering law as applied to event contracts listed on a CFTC-designated contract market.
Kalshi's interlocutory appeal is the Second Circuit's first test of the preemption question. A request for an injunction pending appeal was denied on a temporary basis and referred to a panel; the CFTC filed an amicus brief supporting Kalshi.
Docket timeline
CFTC and Paradigm file amicus briefs.
Source: dockets.justia.com
Court orders Nos. 26-2297, 26-1835 and 26-2239 heard in tandem.
Source: dockets.justia.com
Kalshi's opening brief filed.
Source: dockets.justia.com
Kalshi and New York exchange letters about a CFTC emergency order issued Aug. 11, 2026.
Source: dockets.justia.com
Temporary injunction denied; motion referred to a three-judge panel.
Source: dockets.justia.com
Interlocutory appeal docketed.
Source: dockets.justia.com