Operator v. state
KalshiEX LLC v. Williams
U.S. District Court for the Southern District of New York, 1:25-cv-08846
Injunction denied
Judge Analisa Torres denied a preliminary injunction on July 7, 2026 and an injunction pending appeal on July 27, 2026; Kalshi's appeal (2d Cir. No. 26-1835) is pending.
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 sued New York's gaming regulators to block enforcement of state gaming law against its sports contracts. The court denied preliminary relief, and Kalshi appealed the next day.
Docket timeline
Judge Analisa Torres denies Kalshi's motion (filed July 15, 2026) for an injunction pending appeal; New York's Attorney General says the state will not seek civil penalties while the dispute is resolved.
Source: covers.com
Judge Analisa Torres denies Kalshi's TRO and preliminary-injunction motion.
Source: dockets.justia.com
Complaint filed.
Source: dockets.justia.com
New York State Gaming Commission sends Kalshi a cease-and-desist letter; the state later stipulates not to enforce it pending the PI ruling.
Source: dockets.justia.com
Sources
- Justia docket: KalshiEX v. Williams, S.D.N.Y. 1:25-cv-08846
- Justia docket: KalshiEX v. Williams, 2d Cir. 26-1835
- Vultax prediction market lawsuit tracker (updated 2026-10-19)
- Covers: federal judge denies Kalshi emergency injunction request in New York (2026-07-28)
- Bettors Insider: NY federal judge denies Kalshi injunction bid for second time this month (2026-07-28)