Latest
Checked Oct. 21, 2026
MD ยท Checked Oct. 21, 2026
In litigation
Kalshi's challenge to Maryland's gambling enforcement awaits a Fourth Circuit ruling after a federal judge refused to block the state.
Maryland's Lottery and Gaming Control Agency sent Kalshi a cease-and-desist letter in April 2025; Kalshi sued, and the federal district court denied its preliminary injunction on Aug. 1, 2025. The Fourth Circuit heard the appeal on May 7, 2026 and had not ruled by mid-October; Maryland has agreed to hold off enforcement during the appeal. Separately, Baltimore City sued Kalshi, Polymarket and others under its consumer-protection ordinance on Aug. 13, 2026, and the case was removed to federal court.
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
Other development, Kalshi
Maryland filed a supplemental-authority letter in the Fourth Circuit pointing to the Sixth Circuit's Sept. 25, 2026 Schuler decision.
Other development, Kalshi
Maryland's attorney general signed an Ohio-led amicus brief, joined by 38 other states and DC, asking the U.S. Supreme Court to grant New Jersey's petition in Flaherty v. KalshiEX (No. 26-299).
Source: Ohio et al. amicus brief, U.S. Supreme Court No. 26-299
Other development, Kalshi, Polymarket, Robinhood, Coinbase
Baltimore City (a municipality, not the state) sued in the Circuit Court for Baltimore City under its consumer-protection ordinance, alleging unlicensed sports betting; Kalshi removed the case on Aug. 14, 2026.
Source: Baltimore City press release
Other development, Kalshi
The Fourth Circuit heard oral argument in KalshiEX v. Martin (No. 25-1892); no decision had issued as of Oct. 20, 2026.
Court order, Crypto.com
The district court stayed Crypto.com's parallel suit (North American Derivatives Exchange v. Martin) until Kalshi's appeal is decided.
Source: Prediction Market Litigation Tracker (mickbransfield.com)
Other development, Kalshi
Maryland agreed in writing not to enforce its gambling laws against Kalshi while the appeal is pending.
Court order, Kalshi
Judge Adam B. Abelson of the District of Maryland denied Kalshi's request for a preliminary injunction against state enforcement; Kalshi appealed to the Fourth Circuit.
Cease-and-desist, Kalshi
Maryland regulators sent Kalshi a cease-and-desist letter over its sports event contracts.
Source: Prediction Market Litigation Tracker (mickbransfield.com)
No enacted laws or pending bills specific to prediction markets found.