Operator v. state
North American Derivatives Exchange, Inc. v. Martin
U.S. District Court for the District of Maryland, 1:25-cv-01285
Pending
Listed as active; no ruling found. Latest activity seen Aug. 28, 2026 (DeFi Rate).
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.
Crypto.com's U.S. derivatives exchange filed a parallel challenge to Maryland's gaming enforcement the same day as Kalshi.
Docket timeline
Complaint filed.
Source: dockets.justia.com