All updates

Attorney General Brown sued Kalshi, four Kalshi subsidiaries and two Pennsylvania-based trading firms that supply pricing and liquidity in Utah's Third District Court, alleging that Kalshi operates as an unlicensed gambling business. The state seeks an order barring Kalshi from taking Utah wagers, enforced through a court-approved geolocation tool, plus fees it estimates at $30.6 million to $61.2 million and about $5.5 million in restitution for Utah users' losses.

Source: The Salt Lake Tribune

A voter, Joseph Giganti Sr., filed a federal civil-rights suit against Elections Commission members challenging the view that buying election contracts could disqualify him from voting (date per DeFi Rate's docket tracker).

Source: DeFi Rate legal tracker

Novig's exchange, Ludlow Exchange, sued the attorney general and Gaming Commission officials in the Eastern District of Missouri, arguing the CFTC has exclusive jurisdiction.

Source: DeFi Rate tracker sources page

North American Derivatives Exchange (OG.com Prediction Markets, Crypto.com's exchange) sued in the Western District of Missouri, also arguing federal preemption.

Source: DeFi Rate tracker sources page

At the Oct. 16 compliance deadline, most of the ten recipients were still offering sports contracts in Ohio, according to local reporting; Plus500US told the commission it would stop. Gov. Mike DeWine said the state would file lawsuits, and Attorney General Andy Wilson said the state could seek to recover the companies' Ohio revenue.

Source: News 5 Cleveland (WEWS)

Magistrate Judge Edward B. Atkins recommended granting Kentucky's motion to send its QCX case back to state court; the district judge has not yet ruled.

Source: DeFi Rate tracker sources page

Maryland filed a supplemental-authority letter in the Fourth Circuit pointing to the Sixth Circuit's Sept. 25, 2026 Schuler decision.

Source: DeFi Rate prediction market lawsuit tracker

Underdog Exchange DCM and UDM (Underdog Predict) sued Attorney General Skrmetti and Sports Wagering Council officials and members in the Middle District of Tennessee (Nashville), seeking a declaration of federal preemption and a permanent injunction.

Source: Underdog complaint (M.D. Tenn. No. 3:26-cv-01461, ECF 1)

Order permitting supplemental notices on the CFTC's new rulemakings; PI still pending.

Source: defirate.com

Judge Schofield permitted supplemental notices on the CFTC's Oct. 9, 2026 rules (plaintiffs by Oct. 16, 2026; New York may respond by Oct. 23, 2026).

Source: defirate.com

Kalshi petitioned the Sixth Circuit for panel rehearing and rehearing en banc in the consolidated Ohio and Tennessee appeals, citing the CFTC's Oct. 9 proposed rule and interim final rule on the definition of 'swap'.

Source: Kalshi rehearing petition (ECF stamp)

The Council's director of fantasy sports told Underdog to halt its prediction market operations in Tennessee, warning of penalties, referral to law enforcement and possible revocation of its affiliate's fantasy sports license.

Source: Covers

Clerk grants Robinhood-side motion (filed Oct. 8, 2026) and extends the response deadline from Oct. 14, 2026 to Nov. 13, 2026 for all respondents.

Source: supremecourt.gov

Kalshi petitions for rehearing en banc in the joint Ohio/Tennessee appeals.

Source: nextpredict.io

The Commission proposed "Further Definition of 'Swap' - Inclusions" (RIN 3038-AF82), stating that event contracts on sports, politics, culture and weather are swaps within its jurisdiction. It was published October 19, 2026 at 91 FR 66022, with comments due 30 days after publication.

Source: CFTC Release 9310-26

The Commission adopted an interim final rule (RIN 3038-AF81) codifying that sportsbook wagers and casino games are not swaps. It took effect when published on October 19, 2026 (91 FR 65969), with comments accepted for 30 days.

Source: CFTC Release 9309-26

The Ninth Circuit's mandate was entered in the district court, which set a case-management conference for October 21, 2026.

Source: DeFi Rate legal tracker

The Seminole Tribe sued DraftKings, its CEO and DraftKings Predictions in Broward County circuit court, seeking an injunction and disgorgement over sports contracts and the Pick6 game.

Source: WSN prediction markets legal tracker

Amicus briefs filed by the NFL, the American Gaming Association, 145 tribes, the Casino Association of New Jersey, former Sen. Christopher Dodd and former CFTC Chairman Gary Gensler.

Source: supremecourt.gov

Clerk grants the respondents' Oct. 7, 2026 motion and extends the response deadline from Oct. 15, 2026 to Nov. 16, 2026 for all respondents.

Source: supremecourt.gov

The District joined an amicus brief led by Ohio, with 38 other states, urging the Supreme Court to grant New Jersey's petition in Flaherty v. KalshiEX LLC.

Source: U.S. Supreme Court docket No. 26-299

Louisiana'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

The Gaming Control Board announced Coinbase agreed to stop new sports-related event contracts for Michigan customers and close open positions by Oct. 10, 2026, in exchange for state forbearance while appeals proceed.

Source: Michigan Gaming Control Board

Amicus briefs filed by Ohio with 38 states and D.C., and by Stop Predatory Gambling and others.

Source: supremecourt.gov

Judge Garnett heard argument on Van Dyke's motion to dismiss, which argues that the Polymarket contracts are not swaps and that military plans are not property under the wire-fraud statute; she did not rule from the bench.

Source: courthousenews.com

PrizePicks, which did not receive a letter, told customers it was suspending its sports prediction product in Missouri.

Source: SBC Americas

DCP said three platforms, Gemini, Webull and ProphetX, had stopped offering sports contracts in Connecticut after the September orders; ProphetX's exit is disputed.

Source: DeFi Rate legal tracker

Judge S. Chad Meredith canceled the Oct. 9, 2026 argument in the CFTC case and ordered supplemental briefs, due Oct. 23, 2026, on the Sixth Circuit's Schuler decision and pending CFTC rulemaking.

Source: DeFi Rate tracker sources page

Judge Pacold granted in part the injunction motions in the Coinbase, CFTC and Kalshi cases, finding Illinois's licensing and related criminal provisions likely preempted as to the contracts at issue; the fee challenge was continued for more briefing.

Source: N.D. Ill. Memorandum Opinion and Order, No. 1:26-cv-03659, Dkt. 99

The OCCC sent cease-and-desist letters to ten firms offering sports event contracts: Polymarket, Novig, Underdog, Coinbase, ProphetX, Robinhood, Gemini Titan, Webull, Plus500US and Moomoo. Recipients were told to confirm compliance in writing by October 16. Kalshi, already in litigation with the state, was not a recipient.

Source: SBC Americas

Judge Boom refers the remand motion to Magistrate Judge Atkins.

Source: gaming.net

Court orders the parties to submit a joint letter on a stay or status conference.

Source: defirate.com

Court orders a joint letter.

Source: defirate.com

The CFTC submitted two rules to OIRA: an interim final rule excluding casino-style gambling products from the swap definition, and a proposed rule adding event contracts to it.

Source: The Block

Michigan moved to hold Kalshi in civil contempt, alleging it kept sending sports promotions to Michigan residents after the injunction; a show-cause hearing before Judge Aquilina is set for Nov. 24, 2026.

Source: DeFi Rate

A Sixth Circuit panel (Gibbons, writing, with Clay and Bloomekatz) affirmed the denial of Kalshi's preliminary injunction. It held that sports event contracts are not swaps and, in the alternative, that the Commodity Exchange Act does not preempt Ohio's gambling laws.

Source: U.S. Court of Appeals for the Sixth Circuit opinion 26a0272p.06

Sixth Circuit affirms the denial.

Source: law.justia.com

Panel affirms the denial of a preliminary injunction.

Source: law.justia.com

Sixth Circuit vacates the preliminary injunction and remands.

Source: law.justia.com

Panel vacates the preliminary injunction and remands.

Source: law.justia.com

Sixth Circuit decides the Ohio and Tennessee appeals.

Source: law.justia.com

A unanimous panel found Kalshi had not shown its sports contracts are swaps, and held that even if they were, the CEA would not preempt Ohio's or Tennessee's gambling laws (KalshiEX v. Schuler; KalshiEX v. Orgel). Kalshi sought rehearing en banc on October 9.

Source: Proskauer client alert

The attorney general petitioned New York County Supreme Court against QCX LLC (Polymarket US), alleging unlicensed sports wagering; the case was removed to federal court (No. 1:26-cv-08338).

Source: New York AG verified petition

Polymarket US sued the attorney general and others in the Southern District of New York (No. 1:26-cv-08345) seeking declaratory and injunctive relief.

Source: DeFi Rate prediction market lawsuit tracker

The Ninth Circuit stayed Kalshi's appeal of the remand order until rulings in the Nevada case (KalshiEX v. Assad) take effect.

Source: CoinStats prediction market legal tracker

Case assigned to Judge J. Paul Oetken, who ordered an initial pretrial conference for Jan. 8, 2027.

Source: dockets.justia.com

The Supreme Court extended Kalshi's deadline to respond to the petition to Nov. 9, 2026.

Source: U.S. Supreme Court docket No. 26-299

Complaint filed against Kalshi Inc. and KalshiEX LLC; the docket lists trademark infringement under 15 U.S.C. 1114 as the cause of action.

Source: dockets.justia.com

The Clerk extended Kalshi's response deadline in No. 26-299 from October 8 to November 9, 2026. Amicus briefs supporting review followed from Ohio and 38 other states plus D.C., 145 tribes, the NFL, the American Gaming Association, former CFTC Chairman Gensler and others.

Source: Supreme Court docket No. 26-299

Staff Letter 26-27 described the heightened manipulation risk of contracts that settle on what a person says or does. It set out the narrow conditions and factors for listing such contracts.

Source: CFTC Release 9302-26

The court dismissed the case on a joint stipulation filed Sept. 17, 2026: claims against the five commission members with prejudice, and against the attorney general, a Division official and the Division without prejudice. The defendants agreed not to begin enforcement over Kalshi's event contracts until Kalshi's Ninth Circuit rehearing bid in KalshiEX v. Assad is resolved, after which the attorney general's side must give 30 days' written notice.

Source: Joint stipulation of dismissal, D. Mont. No. 6:26-cv-00028 (via DeFi Rate)

After Judge Conley certified his Ho-Chunk ruling for interlocutory appeal, Kalshi petitioned the Seventh Circuit for permission to appeal under 28 U.S.C. 1292(b) (No. 26-8020); no ruling on the petition was found.

Source: Justia Dockets (7th Cir. No. 26-8020)

Appeal docketed; briefing schedule set.

Source: dockets.justia.com

Joint stipulation of dismissal filed (date inferred from DeFi Rate's Sept. 18, 2026 report of a Thursday filing).

Source: defirate.com

A unanimous Ninth Circuit panel (No. 25-7504; Judges Murguia, McKeown and Paez) reversed the denial of a preliminary injunction on the IGRA claim, finding the tribes likely to succeed, and remanded for the other injunction factors without itself ordering an injunction; it affirmed dismissal of the tribes' Lanham Act claim.

Source: InGame

The attorney general demanded each operator stop offering sports contracts to people in Missouri, or obtain a Gaming Commission license, pay the 10% wagering tax and fees, and bar under-21 users, within 30 days; the letters were announced Sept. 18, 2026.

Source: Missouri Attorney General letter to KalshiEX LLC

In Blue Lake Rancheria v. Kalshi, the Ninth Circuit reversed the part of a preliminary-injunction denial that rested on the Indian Gaming Regulatory Act and sent the remaining factors back to the district court.

Source: DeFi Rate legal snapshot

Underdog sued Connecticut officials over the state's cease-and-desist order.

Source: Mick Bransfield litigation tracker

Kalshi filed an interlocutory notice of appeal; the Eighth Circuit docketed it on Sept. 17 as No. 26-2874 and set Kalshi's opening brief for Nov. 6, 2026.

Source: Justia docket, 8th Cir. No. 26-2874

The Senate State Affairs Committee held an interim hearing on its 'Closing Gambling Loopholes' charge, which covers prediction markets; witnesses included the American Gaming Association, Kalshi and Texas Values. No vote was reported.

Source: Texas Senate Committee on State Affairs hearing notice

Petition docketed.

Source: supremecourt.gov

Arizona moved in the Ninth Circuit to summarily vacate the injunction as to sports-event contracts and remand the election-contract issues; no ruling had been reported.

Source: DeFi Rate legal tracker (snapshot)

The federal court heard argument on the CFTC's preliminary-injunction motion in United States v. New York; no ruling has issued. New York may respond by Oct. 23, 2026 to the federal plaintiffs' notices on the CFTC's new rules.

Source: DeFi Rate prediction market lawsuit tracker

Petition docketed.

Source: supremecourt.gov

The United States and the CFTC moved for a preliminary injunction against Connecticut's enforcement; Robinhood moved to intervene.

Source: DeFi Rate legal tracker (snapshot)

Crypto.com's exchange, North American Derivatives Exchange, filed a Supreme Court petition against Nevada (No. 26-344).

Source: De Silva Law Offices

Judge Conley certified his May 2026 ruling for interlocutory appeal under 28 U.S.C. 1292(b).

Source: wsn.com

In its District of Connecticut suit, the CFTC and the United States moved for a preliminary injunction against Connecticut's enforcement of its gambling laws against DCMs.

Source: DeFi Rate legal snapshot

DCP ordered nine platforms (including ProphetX) to stop offering sports event contracts and issued about 30 subpoenas to vendors, payment firms, app stores and media outlets.

Source: Office of Gov. Ned Lamont press release

Robinhood Derivatives asked the U.S. Supreme Court to review the Ninth Circuit's ruling in its Nevada case (No. 26-338).

Source: Robinhood petition for certiorari

Mark R. Moran filed suit against Kalshi Inc. and KalshiEX LLC in the Eastern District of Virginia; the docket lists a Commodity Exchange Act claim (7 U.S.C. 6(b)) as the cause of action.

Source: dockets.justia.com

Kalshi petitioned the Ninth Circuit for rehearing en banc; no ruling had been reported by Oct. 20, 2026.

Source: Joint stipulation, KalshiEX v. Knudsen (D. Mont.), citing the petition

Michigan Gaming Control Board announces Robinhood has agreed to halt sports-related event contracts in Michigan while the litigation continues.

Source: michigan.gov

MGCB announces Robinhood's agreement to halt Michigan sports-related contracts pending the litigation.

Source: michigan.gov

Judge Stephen Locher denied Kalshi's preliminary-injunction motion, finding Kalshi unlikely to show its sports contracts are swaps, which leaves Iowa free to enforce its gaming laws while the case continues.

Source: SBC Americas

Underdog's exchange and its brokerage affiliate sued the attorney general and others in federal court, arguing federal commodities law preempts state enforcement.

Source: DeFi Rate tracker sources page

Underdog's exchange and brokerage sued the attorney general and Gaming Control Board members, seeking a declaration that state gambling laws are preempted.

Source: Underdog v. Torrez complaint (D.N.M.)

Underdog Exchange DCM and UDM (Underdog Predict) filed a federal suit in the Northern District of Ohio seeking to bar Ohio from enforcing its gambling laws against them. Underdog sued four other states the same day.

Source: SBC Americas

The Tenth Circuit denied Kalshi's emergency motion for an injunction pending appeal, leaving Utah free to enforce while the appeal proceeds.

Source: SBC Americas

Underdog Exchange DCM and UDM (Underdog Predict) sued Washington officials in the Western District of Washington; the case was reassigned to Judge Thomas Zilly after Judge Robert Lasnik recused on September 14.

Source: DeFi Rate legal tracker

Petition docketed as No. 26-299.

Source: supremecourt.gov

Complaint filed.

Source: dockets.justia.com

CFTC and Paradigm file amicus briefs.

Source: dockets.justia.com

Complaint filed.

Source: dockets.justia.com

After the Ninth Circuit's Aug. 28 ruling for Nevada, Arizona told the court it would seek summary vacatur of the injunction as to sports contracts and a remand on election contracts.

Source: Arizona status report, 9th Cir. No. 26-4281

A federal judge entered a stipulated order under which Robinhood stops new sports contracts for Michigan users by Sept. 9, 2026 and closes remaining positions by Oct. 9, 2026, without deciding the merits.

Source: DeFi Rate tracker sources page

The tribes filed a 19-page brief supporting their preliminary-injunction motion and answering Kalshi's motion to dismiss; it was the last filing due before the court could rule on the injunction request.

Source: sourcenm.com

Court orders Nos. 26-2297, 26-1835 and 26-2239 heard in tandem.

Source: dockets.justia.com

Tandem-hearing order.

Source: dockets.justia.com

New Jersey filed a petition for certiorari asking the U.S. Supreme Court to review the Third Circuit ruling; it was docketed Sept. 8, 2026 as No. 26-299.

Source: U.S. Supreme Court docket No. 26-299

Joint motion to stay granted.

Source: dockets.justia.com

DraftKings Inc., GUS III LLC and Railbird Exchange LLC removed the case from the Charleston County Court of Common Pleas (No. 2026CP1004063); the removal papers show voluntary dismissals of DRW Holdings and IMC-Chicago in state court.

Source: dockets.justia.com

New Jersey filed a certiorari petition (No. 26-299, docketed September 8) asking the Court to decide whether the CEA preempts state gambling laws as applied to sports event contracts on CFTC-registered exchanges.

Source: Supreme Court docket No. 26-299

Judge Aquilina granted a preliminary injunction barring Kalshi's sports-wagering activity, deposits, account funding and advertising in Michigan, with geolocation rules and $500,000-per-day penalties, until a final order.

Source: Ingham County Circuit Court order (via Michigan AG)

Kentucky filed its reply supporting remand of the Kalshi case to state court before Judge Robert E. Wier (E.D. Ky. No. 3:26-cv-00048); no ruling was found.

Source: Kentucky reply brief (via InGame)

Kalshi's opening brief filed.

Source: dockets.justia.com

Complaint filed with an emergency motion for an order to show cause; the docket lists a private Commodity Exchange Act claim (7 U.S.C. 25) as the cause of action and assigns Judge Margaret M. Garnett.

Source: dockets.justia.com

According to a docket tracker, Judge Garnett denied the requested temporary restraining order the same day.

Source: defirate.com

A Ninth Circuit panel (Judges R. Nelson, Bade and Lee; No. 25-7516) affirmed the dissolution of Kalshi's injunction as to sports contracts, holding they are likely not swaps and Nevada law is likely not preempted, and remanded on election contracts.

Source: Ninth Circuit opinion, KalshiEX v. Assad

DeFi Rate's tracker recorded the case as active after checking the docket, with no rulings noted.

Source: defirate.com

The CFTC entered a settled order (CFTC Docket No. 26-06) finding violations of CEA Sections 4c(a)(3), 4c(a)(4)(C) and 6(c)(1) and Regulation 180.1(a)(1) and (3), with disgorgement of $107,539.02, a $65,000 civil monetary penalty and a three-year trading ban.

Source: cftc.gov

In KalshiEX v. Assad (No. 25-7516, consolidated), a unanimous panel (Nelson, Bade and Lee) held Kalshi unlikely to show its sports contracts are swaps and affirmed rulings that let Nevada enforce its gaming laws. This created a split with the Third Circuit. Kalshi petitioned for rehearing on September 9.

Source: Justia docket, Ninth Cir. No. 25-7516

A former White House teleprompter operator, Gabriel Perez, agreed to pay about $172,000 and accept a three-year trading ban to settle charges that he traded presidential mention contracts using advance access to speeches.

Source: CFTC Release 9289-26

Judge Donald Molloy denied Kalshi's preliminary injunction without prejudice, finding it had not shown likely irreparable harm after repeatedly agreeing to pause the case.

Source: InGame

Case reassigned to District Judge Margaret I. Strickland.

Source: dockets.justia.com

AG William Tong and DCP sued Kalshi in Hartford Superior Court seeking to stop its sports contracts plus restitution and civil penalties; the court denied an ex parte TRO that day, and Kalshi later removed the case to federal court.

Source: InGame

Joint motion to stay proceedings filed.

Source: dockets.justia.com

Briefing held in abeyance pending Nos. 26-3196 and 26-5235.

Source: dockets.justia.com

Kalshi asked Judge McHale to reconsider the amended injunction or, alternatively, his denial of a stay, citing the state's non-enforcement agreement with OG. The motion was set for a Sept. 2 decision without oral argument; no ruling had been reported as of Oct. 21, 2026.

Source: KOMO News

Joint motion to reset the Sept. 25, 2026 argument.

Source: dockets.justia.com

The committee's first meeting, in Washington, included a session on prediction markets and novel event contracts.

Source: CFTC Release 9288-26

The attorney general and Gambling Commission agreed not to pursue civil or criminal enforcement against OG over event contracts until the Ninth Circuit resolves pending preemption appeals.

Source: KOMO News

Robinhood's opening brief filed.

Source: dockets.justia.com

Appeal docketed from a Aug. 10, 2026 order.

Source: dockets.justia.com

Appeal docketed.

Source: dockets.justia.com

AGA appeal docketed (26-2696).

Source: dockets.justia.com

The court also denied Kalshi's emergency motion for an injunction pending appeal.

Source: Public Gaming Research Institute

Nevada told the court Kalshi missed the Aug. 12, 2026 geofencing deadline it had agreed to in July and asked for a $120,000-per-day fine; Kalshi says investigators misrepresented their location. No ruling on the fine was found.

Source: Finance Magnates

Ludlow Exchange (Novig) sued to block the Wisconsin DOJ from enforcing state gambling law against its sports event contracts.

Source: CoinStats prediction market legal tracker

Joint motion to stay granted.

Source: dockets.justia.com

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

Judge McHale's order barred Kalshi from offering or advertising sports, election, politics, entertainment, culture, technology, science and mention contracts to Washington users. It required IP and residency geofencing by August 19 and multi-source geolocation by September 2, with possible $120,000 daily penalties.

Source: Washington State Standard

Kalshi and New York exchange letters about a CFTC emergency order issued Aug. 11, 2026.

Source: dockets.justia.com

Appeal docketed (No. 26-2239).

Source: dockets.justia.com

Appeal docketed.

Source: dockets.justia.com

Staff told DCMs what self-certified market-maker and trading-incentive program filings must contain, after seeing deficient filings tied mostly to event contracts.

Source: CFTC Release 9282-26

The CFTC issued an emergency order, citing a market emergency, directing Kalshi to keep operating normally despite New York's request for a restraining order.

Source: Bettors Insider

Motion to expedite filed.

Source: dockets.justia.com

New York's Attorney General sued KalshiEX in state court on July 31, seeking to bar its event contracts and over $36 billion in damages. The CFTC then acted on Kalshi's notice of a market emergency and ordered the exchange to keep operating under the CEA Core Principles.

Source: CFTC Release 9281-26

Judge Vernon D. Oliver denied Kalshi's motion for a preliminary injunction, finding its sports contracts are not swaps protected by federal law; Kalshi appealed.

Source: Vultax lawsuit tracker

A Washington Court of Appeals commissioner denied Kalshi's emergency request to stay the injunction pending appeal.

Source: GeekWire

Appeal docketed in the Sixth Circuit.

Source: dockets.justia.com

Appeal docketed.

Source: dockets.justia.com

Order resets conferences to Aug. 31, 2026 and notes the Sept. 14, 2026 PI hearing in the related federal case.

Source: dockets.justia.com

Defendants oppose remand.

Source: dockets.justia.com

US/CFTC appeal docketed (26-2636).

Source: dockets.justia.com

Briefing on both motions complete.

Source: dockets.justia.com

Coalition for Fair Markets allowed to intervene; cross-motions for summary judgment due Aug. 24, 2026, responses Sept. 14, 2026, argument set for Sept. 25, 2026.

Source: dockets.justia.com

Judge Schofield, now presiding over the related New York cases, sets the PI hearing for Sept. 14, 2026.

Source: dockets.justia.com

In the parallel CFTC civil case, Judge Andrew Carter granted prosecutors' motion to stay the civil action until the criminal case concludes.

Source: cointelegraph.com

Judge Andrew Carter stayed the civil case pending the outcome of the criminal proceeding, granting a July motion by prosecutors.

Source: cointelegraph.com

The Eastern District of Michigan denied Coinbase's request for a preliminary injunction against state enforcement; Coinbase appealed.

Source: Ohio et al. amicus brief, U.S. Supreme Court No. 26-299

PI denial signed (entered Aug. 10, 2026).

Source: vultax.com

Novig's exchange, Ludlow Exchange, sued state officials in federal court (D.N.M. No. 1:26-cv-02576) after launching event contracts in New Mexico.

Source: Underdog v. Torrez complaint (D.N.M.)

Ludlow Exchange, the exchange behind Novig, sued Washington officials in federal court to block enforcement of the state's gambling laws against its event contracts; it filed similar suits against Massachusetts, New Mexico and New York the same week.

Source: Deadspin

Complaint filed.

Source: dockets.justia.com

JuiceX announced that the CFTC had designated it as a contract market. It plans to list in-game sports event contracts.

Source: JuiceX press release (Cision)

Kalshi's appeal was docketed at the Tenth Circuit (No. 26-4100).

Source: Justia Dockets (10th Cir. No. 26-4100)

Case stayed pending appeal.

Source: dockets.justia.com

Case reassigned to Judge Schofield.

Source: dockets.justia.com

Case referred to Judge Torres as possibly related to Kalshi v. Williams.

Source: dockets.justia.com

Judge Robert J. Shelby granted summary judgment to Utah and closed the case, holding that federal commodities law does not displace Utah's power to ban gambling, including as applied to Kalshi's sports contracts.

Source: Utah Attorney General

Complaint filed.

Source: dockets.justia.com

Judge Jed Rakoff, sitting in for the assigned judge, denied the United States' emergency request for a TRO halting the attorney general's case against Kalshi.

Source: Ball Is Life / Derek Helling

Judge McElroy heard the preliminary-injunction motions of Kalshi, Polymarket US and the CFTC and took them under advisement; no ruling had been reported as of October 21, 2026.

Source: CoinStats prediction market legal tracker

Kalshi moves to stay the appeal (granted as abeyance on Aug. 24, 2026).

Source: dockets.justia.com

The attorney general sued Kalshi in New York County Supreme Court (No. 453272/2026), alleging an unlicensed gambling business and seeking an injunction, restitution, disgorgement and treble penalties; Kalshi removed the case to federal court.

Source: Governor and Attorney General press release

The CFTC entered a settled order instituting proceedings (CFTC Docket No. 26-05), finding violations of CEA Section 6(c)(1) and Regulation 180.1(a)(1) and (3), and imposing disgorgement of $17,569.98, a $17,500 civil monetary penalty and a three-year trading ban.

Source: cftc.gov

Former Rep. George Santos agreed to pay about $35,000 and accept a three-year trading ban to settle charges that he manipulated a contract on whether he would attend the State of the Union, an outcome he controlled.

Source: CFTC Release 9276-26

Oral argument before Judges Clay, Gibbons and Bloomekatz.

Source: dockets.justia.com

Case reassigned to District Judge David H. Urias.

Source: dockets.justia.com

In their SDNY case, the CFTC and DOJ asked for a temporary restraining order to stop New York from enforcing its gambling laws against CFTC-regulated platforms.

Source: K&L Gates 2026 Mid-Year Prediction Market Report

A Second Circuit motions order denied Kalshi a temporary injunction pending appeal and referred its motion to a three-judge panel; the appeal is to be heard in tandem with two related appeals.

Source: Second Circuit docket No. 26-1835 (Justia)

In the CFTC's suit (E.D. Wis. No. 26-C-749), Judge William Griesbach denied a preliminary injunction, finding the CFTC unlikely to show that sports event contracts are swaps or that state gambling law is preempted. He also denied motions by two prediction markets to intervene. The CFTC appealed to the Seventh Circuit.

Source: A&O Shearman litigation alert

The Eastern District of Wisconsin denied the CFTC's motion for a preliminary injunction against Wisconsin's enforcement actions. It was the first district court loss in the CFTC's suits against states.

Source: K&L Gates 2026 Mid-Year Prediction Market Report

Judge Katherine Menendez preliminarily enjoined enforcement of the ban against CFTC-registered exchanges in challenges brought by the United States, Kalshi and Polymarket US, finding it likely preempted in many respects but noting final relief could be narrower.

Source: Legal Sports Report

Appeal docketed.

Source: dockets.justia.com

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

State officials oppose the PI motion.

Source: dockets.justia.com

Comments on the public-interest determinations proposal were due. K&L Gates counted more than 1,393 comments. No final rule had been announced as of October 21, 2026.

Source: Federal Register, 91 FR 35806 (GovInfo)

The District of Minnesota granted a preliminary injunction against Minnesota's new law criminalizing prediction markets, days before its August 1 effective date. The CFTC had sued over the law in May.

Source: K&L Gates 2026 Mid-Year Prediction Market Report

Justice Alito grants a second extension (requested July 22, 2026) to Sept. 3, 2026.

Source: supremecourt.gov

Kalshi appeals the remand order (6th Cir. No. 26-1639).

Source: dockets.justia.com

Nevada Gaming Control Board announces the agreement.

Source: gaming.nv.gov

Reply filed; case reassigned to Judge Pacold.

Source: dockets.justia.com

Joint motion to stay proceedings filed.

Source: dockets.justia.com

Staff Letter 26-22 told DCMs not to file broad template-style self-certifications covering many contract variations, and explained when related contracts may be certified as a class.

Source: CFTC Release 9273-26

Kalshi's agreement on geofencing filed after contempt motion.

Source: gaming.nv.gov

North American Derivatives Exchange (Crypto.com's OG) sued the attorney general and Gambling Commission members in the Western District of Washington, citing an imminent threat of enforcement.

Source: SBC Americas

The Ninth Circuit stayed Arizona's appeal of the injunction (No. 26-4281), in which Kalshi and Crypto.com's exchange (NADEX) are appellees or intervenors, until it decided the related Nevada appeals.

Source: Justia docket, 9th Cir. No. 26-4281

Plaintiffs agree to withdraw the PI motion; court sets an expedited summary-judgment schedule.

Source: dockets.justia.com

Judge John McHale granted the state a preliminary injunction against Kalshi, rejecting its federal preemption defense.

Source: GeekWire

Kentucky moves to remand.

Source: dockets.justia.com

State opposes the motion.

Source: dockets.justia.com

State moves to dismiss and opposes the PI motion.

Source: dockets.justia.com

Case referred to Magistrate Judge Atkins for pretrial management.

Source: dockets.justia.com

The CFTC barred Kalshi from canceling sports trades it had already executed in order to comply with the Michigan restraining order; Kalshi said it had unwound the trades and was caught between the two orders.

Source: Michigan Advance

After a Michigan state court ordered Kalshi to cancel executed trades, the CFTC stayed Kalshi's emergency rule change and used its emergency authority to order the open trades fulfilled under Kalshi's normal practices.

Source: CFTC Release 9267-26

The Ninth Circuit heard oral argument in San Francisco.

Source: leagle.com

The Wisconsin Elections Commission approved a staff memo concluding that election contracts likely count as wagers under Wis. Stat. 6.03(2), which can disqualify a voter from voting in that election.

Source: Gambling Insider

Interlocutory appeal docketed.

Source: dockets.justia.com

Judge Analisa Torres denied Kalshi's preliminary injunction, finding preemption unlikely, and dismissed the Gaming Commission itself on immunity grounds; Kalshi appealed (2d Cir. No. 26-1835).

Source: S.D.N.Y. opinion and order, KalshiEX v. Williams

Gov. Stein signed the budget, which taxes prediction market operators at 6% starting Jan. 1, 2027 and treats CFTC-registered exchanges as able to operate without a state license.

Source: Covers

Appeal docketed.

Source: dockets.justia.com

Arizona's appeal docketed (No. 26-4281).

Source: dockets.justia.com

Omnibus motion denied; appeal to proceed normally.

Source: dockets.justia.com

Consolidated PI argument.

Source: dockets.justia.com

PI argument.

Source: dockets.justia.com

The Nevada Supreme Court (No. 92771) denied Kalshi's request to stay the state-court injunction.

Source: SportsBettingDime

Justice Alito extends the deadline to Aug. 4, 2026.

Source: supremecourt.gov

QCX LLC (Polymarket US) sued the attorney general in federal court (D.N.M. No. 1:26-cv-02100).

Source: Underdog v. Torrez complaint (D.N.M.)

Judge Rosemarie Aquilina issued an ex parte 14-day temporary restraining order barring Kalshi's sports contracts for anyone in Michigan, with geolocation requirements and a $120,000 daily fine; she extended and modified it in mid-July, setting a Aug. 12, 2026 geofencing deadline.

Source: InGame

The New Mexico Department of Justice declined Polymarket's request to hold off enforcement.

Source: Underdog v. Torrez complaint (D.N.M.)

Kalshi sued the OCCC in the Franklin County Court of Common Pleas to stop the proposed $5 million penalty, arguing among other things that imposing it administratively would deny its state-constitutional right to a jury trial.

Source: SBC Americas

The court allowed the CFTC to intervene on the exchanges' side.

Source: CoinStats prediction market legal tracker

New Jersey applies (No. 25A1465) to extend the filing deadline.

Source: supremecourt.gov

Motion to expedite and consolidate with Nos. 26-3196, 26-5235 and 26-1542.

Source: dockets.justia.com

A litigation tracker reports the judge granted a six-month stay in South Carolina's Statute of Anne litigation (not docket-verified).

Source: mickbransfield.com

New Jersey applied (No. 25A1465) for more time to seek certiorari from the Third Circuit ruling. Justice Alito granted extensions on July 1 and July 24 that moved the deadline to September 3, 2026.

Source: Supreme Court docket No. 25A1465

A federal court sent the state's case against Kalshi back to Ingham County Circuit Court; Kalshi appealed the remand to the Sixth Circuit (No. 26-1639).

Source: InGame

TRO/PI motion filed.

Source: dockets.justia.com

The Commission proposed amending Parts 15-17 to set an alternative data-reporting framework for certain fully collateralized event contracts (91 FR 40102), replacing relief that had rested on staff no-action letters since 2017.

Source: CFTC Release 9261-26

Hearing set on the PI motion before Judge Shalina D. Kumar (notice entered May 26, 2026).

Source: dockets.justia.com

Kalshi, Inc. and KalshiEX, LLC moved to dismiss the complaint.

Source: dockets.justia.com

The United States and the CFTC sued Kentucky in federal court, arguing that state enforcement suits against CFTC-registered exchanges and a new state fee on them are preempted.

Source: CFTC press release 9260-26

Appeal docketed; motion to expedite and consolidate filed.

Source: dockets.justia.com

Complaint filed.

Source: dockets.justia.com

The CFTC sued Kentucky over the state's civil enforcement suits against DCMs and a new state transaction fee on DCMs.

Source: CFTC Release 9260-26

Preliminary-injunction motion filed.

Source: dockets.justia.com

Consolidated with the state's removed enforcement case (No. 1:26-cv-00333).

Source: dockets.justia.com

Consolidated into No. 1:26-cv-00327.

Source: dockets.justia.com

Case removed.

Source: dockets.justia.com

Polymarket removed the Commonwealth's QCX case to the U.S. District Court for the Eastern District of Kentucky (No. 3:26-cv-00047); Kalshi removed its case in June as well (No. 3:26-cv-00048).

Source: DeFi Rate prediction market lawsuit tracker

Notice of appeal.

Source: dockets.justia.com

PI motion filed; case reassigned to Chief Judge Gonzales.

Source: dockets.justia.com

The two agencies jointly requested comment on clarifying and harmonizing the swap and security-based swap definitions, a question at the center of the event-contract preemption cases. Comments were due August 24, 2026.

Source: K&L Gates 2026 Mid-Year Prediction Market Report

The attorney general filed separate Franklin Circuit Court suits against KalshiEX LLC and others (No. 26-CI-00689) and QCX LLC and others (No. 26-CI-00696), alleging unlicensed sports betting.

Source: The Block

The Western District of Michigan denied preliminary injunctions to Polymarket and Robinhood; both appealed to the Sixth Circuit (Nos. 26-1552 and 26-1542).

Source: Ohio et al. amicus brief, U.S. Supreme Court No. 26-299

Court consolidates Nos. 26-3196 and 26-5235 (and drops the Tennessee Sports Wagering Council as a party in 26-5235).

Source: dockets.justia.com

PI motion due under the court's June 15, 2026 schedule (filing not separately verified).

Source: dockets.justia.com

Accepted as related to United States v. New York (1:26-cv-03404).

Source: dockets.justia.com

Governor Hochul voluntarily dismissed as a defendant.

Source: dockets.justia.com

Sports-focused operator Novig announced that the CFTC had approved it as a designated contract market about six months after it applied. The exact order date was not published in the sources reviewed.

Source: SBC Americas

Clerk extends Kalshi's opening-brief deadline.

Source: dockets.justia.com

The Alabama attorney general joined a 37-state amicus brief in the Sixth Circuit (KalshiEX LLC v. Schuler) supporting Ohio's authority to apply its gaming laws to Kalshi.

Source: California Attorney General (coalition press release)

A coalition including Kalshi, Crypto.com and Polymarket sued in state court to block the 14.25% prediction-market tax, calling it discriminatory and preempted.

Source: KTAR (AP)

The Board asked the court to hold Kalshi in contempt and impose significant penalties for not complying with the May 18, 2026 order.

Source: Nevada Gaming Control Board press release

The United States and the CFTC sued New Mexico (D.N.M. No. 1:26-cv-01912) and moved for a preliminary injunction on June 18, 2026; the state moved to dismiss on July 16, 2026.

Source: Underdog v. Torrez complaint (D.N.M.)

Oklahoma joined a 37-state coalition (36 states plus California) that filed an amicus brief in the Sixth Circuit supporting Ohio's enforcement position against Kalshi (date is the coalition announcement).

Source: California Attorney General press release

Complaint filed.

Source: dockets.justia.com

Foris Dax Markets dismissed without prejudice by stipulation.

Source: dockets.justia.com

The CFTC sued New Mexico in federal court a week after the state filed a state-court complaint calling Kalshi's sports contracts unlawful online sports betting.

Source: CFTC Release 9251-26

QCX moves to transfer to the E.D. Wis.

Source: dockets.justia.com

Stipulated dismissal of Blockratize and QC Clearing without prejudice.

Source: dockets.justia.com

The Commission proposed amending Rule 40.11 and adding Appendix F to Part 40. The proposal sets a review process, defines "gaming" and "involve," and lists public-interest factors for contracts involving war, terrorism, assassination, gaming or unlawful activity. It was published June 12, 2026 at 91 FR 35806.

Source: CFTC Release 9249-26

Wisconsin moves for a preliminary injunction.

Source: dockets.justia.com

Polymarket US moves for a preliminary injunction.

Source: dockets.justia.com

Kalshi removed the attorney general's case to federal court (D.N.M. No. 1:26-cv-01857); the state moved to remand.

Source: Underdog v. Torrez complaint (D.N.M.)

Remand motion fully briefed (New York's reply).

Source: dockets.justia.com

Remand briefing completed with the state's reply.

Source: dockets.justia.com

The attorney general sued Kalshi in the First Judicial District Court, Santa Fe County (No. D-101-CV-2026-01567), alleging unlicensed sports betting and seeking an injunction and nuisance abatement.

Source: Underdog v. Torrez complaint (D.N.M.)

Unopposed stay granted pending the Nevada mandates.

Source: dockets.justia.com

New York opposes the preliminary-injunction motion.

Source: dockets.justia.com

Complaint filed.

Source: dockets.justia.com

Court grants motion to reassign United States v. Illinois (No. 26-cv-03659) to Judge Pacold as related.

Source: dockets.justia.com

Reassigned to Judge Pacold as related to Coinbase v. Raoul.

Source: dockets.justia.com

The legislature passed SB 3019, a budget revenue bill that taxes 'exchange wagers' on prediction markets at 1.75%, rising to 3.5% after five million wagers a year.

Source: Taft law bulletin

Briefing schedule extended: opening brief due July 23, 2026, answering brief Aug. 24, 2026.

Source: dockets.justia.com

PI motion filed.

Source: dockets.justia.com

Case reassigned to Judge Donald W. Molloy.

Source: dockets.justia.com

Judge Jason Woodbury grants the Board's preliminary-injunction motion against QCX LLC (Polymarket US); written order to follow.

Source: gaming.nv.gov

The case was reassigned to District Judge Margaret I. Strickland as trial judge, and the docket's division code changed to Las Cruces (2:26-cv-01517).

Source: dockets.justia.com

The CFTC and DOJ moved to intervene in Kalshi's federal case; Kalshi moved for a preliminary injunction the next day.

Source: DeFi Rate

A litigation tracker reports the court granted a six-month stay in the Georgia Statute of Anne litigation (not docket-verified).

Source: mickbransfield.com

A litigation tracker reports the plaintiff filed an unopposed motion for a six-month stay (not docket-verified).

Source: mickbransfield.com

The CFTC moved to join a DCM's suit in the U.S. District Court for the District of Rhode Island after the state filed a parallel state-court enforcement case seeking civil penalties.

Source: CFTC Release 9238-26

Kalshi sued Attorney General Keith Ellison, Gov. Walz and the state gambling enforcement director in the District of Minnesota, raising Supremacy Clause and First Amendment claims.

Source: The Block

Crypto.com's exchange (NADEX/CDNA) allowed to intervene as a plaintiff; motion-to-dismiss schedule set and discovery stayed.

Source: dockets.justia.com

The U.S. Attorney's Office for the Southern District of New York announced the unsealing of a criminal complaint charging one count each of commodities fraud, wire fraud and money laundering; Spagnuolo was presented before Magistrate Judge Sarah Netburn.

Source: justice.gov

The CFTC filed a civil complaint in the Southern District of New York (No. 1:26-cv-04419), in parallel with the unsealing of a criminal complaint.

Source: cftc.gov

SDNY unsealed a criminal complaint and the CFTC filed parallel civil charges against Google engineer Michele Spagnuolo. Both allege he used nonpublic Year in Search data to trade at least 23 Polymarket contracts, for about $1.2 million in profit.

Source: CFTC Release 9237-26

The governor approved SF 3432 (ch. 118). Its Article 6 creates Minn. Stat. § 609.7615, making it a felony to operate, facilitate or advertise prediction markets on sports, elections, pop culture, deaths and other listed events, effective Aug. 1, 2026, and repeals the SF 4760 version.

Source: Minnesota Session Laws 2026, ch. 118

The state told the court it would take no further enforcement action until the pending cases are decided.

Source: CoinStats prediction market legal tracker

Mohegan Tribe and Mashantucket Pequot Tribal Nation move to intervene.

Source: dockets.justia.com

In a Truth Social post, President Trump said it was critically important to keep the CFTC's exclusive authority over prediction markets, endorsing Chairman Selig's position.

Source: The Block

Polymarket US removed the state's case to the U.S. District Court for the District of Rhode Island.

Source: CoinStats prediction market legal tracker

Gov. Bill Lee signed SB 1992/HB 2079, which makes it a Class E felony to try, for financial gain, to influence an event while holding a prediction-market contract tied to it (Public Chapter 1109, effective July 1, 2026).

Source: FastDemocracy (Tennessee SB 1992 history)

Judge Corley stayed the district-court case until the Ninth Circuit decided both this appeal (No. 25-7504) and KalshiEX v. Assad (No. 25-7516), the Nevada case argued April 16, 2026.

Source: narf.org

Kalshi filed a preemptive federal suit (KalshiEX LLC v. Furcolo) against Rhode Island officials in the District of Rhode Island shortly after noon, after the attorney general declined to give assurances that it would not face enforcement.

Source: Rhode Island Current

About four hours later, Attorney General Neronha sued Kalshi and Polymarket US in Providence County Superior Court. The suit seeks a declaration that their sports contracts are gambling under state law, a permanent injunction, and restitution and disgorgement.

Source: SBC Americas

The Ninth Circuit denied Kalshi's request to pause the state-court litigation while it appeals the remand.

Source: DeFi Rate

Court denies Kalshi's stay pending appeal and denies Nevada's motion to dismiss, holding it has jurisdiction because the case was removed under 28 U.S.C. 1442; briefing schedule reset.

Source: dockets.justia.com

The CFTC and the National Hockey League agreed to share information and coordinate on hockey integrity and related event contracts on CFTC-regulated exchanges.

Source: CFTC Release 9235-26

The United States and the CFTC sued Minnesota in federal court to stop the law from taking effect, arguing federal law gives the CFTC exclusive jurisdiction.

Source: Stateline / Minnesota Reformer

Robinhood moves to transfer to the E.D. Wis.

Source: dockets.justia.com

The CFTC sued Minnesota and sought a preliminary injunction against a new state law, effective August 1, 2026, that makes operating a prediction market a felony.

Source: CFTC Release 9233-26

The governor signed SF 4760 (ch. 97), an omnibus public-safety bill that included a prediction market ban; those provisions were later repealed and replaced by SF 3432.

Source: DeFi Rate

The court ordered Kalshi to geofence so it does not offer sports, election or entertainment event contracts to anyone in Nevada.

Source: Nevada Gaming Control Board press release

Appeal docketed.

Source: dockets.justia.com

Wisconsin moves to remand.

Source: dockets.justia.com

Wisconsin moves to remand.

Source: dockets.justia.com

Wisconsin moves to remand.

Source: dockets.justia.com

The Mescalero Apache Tribe and the Pojoaque, Sandia and Isleta Pueblos sued Kalshi in federal court in Albuquerque, alleging it enables sports betting on tribal lands in violation of their gaming compacts and the Indian Gaming Regulatory Act.

Source: Source NM

CFTC announces an amicus brief in the Sixth Circuit supporting exclusive federal jurisdiction.

Source: cftc.gov

In KalshiEx v. Schuler (No. 26-3196), the Ohio appeal, the CFTC argued that the federal scheme preempts state law as applied to CFTC-regulated markets and that the district court read its jurisdiction too narrowly.

Source: CFTC Release 9230-26

In the Ho-Chunk case, Judge William Conley denied a preliminary injunction for lack of irreparable harm but let the tribe's Indian Gaming Regulatory Act claim proceed, finding it likely to succeed.

Source: Courthouse News Service

Appeal docketed.

Source: dockets.justia.com

Kalshi appeals the remand order.

Source: dockets.justia.com

Court defers Coinbase's request to consolidate with the Gemini case and the United States/CFTC v. New York action until it rules on remand.

Source: dockets.justia.com

Kalshi appeals the denial of its own motion.

Source: dockets.justia.com

The Fourth Circuit heard oral argument in KalshiEX v. Martin (No. 25-1892); no decision had issued as of Oct. 20, 2026.

Source: DeFi Rate prediction market lawsuit tracker

The Fourth Circuit heard argument in KalshiEX v. Martin (No. 25-1892), Kalshi's appeal from the denial of a preliminary injunction against Maryland regulators. As of October 20, 2026 no decision had been reported.

Source: Finance Magnates

HB 243 (Gambling Revisions) took effect, adding proposition bets on an individual action, statistic or occurrence to Utah's definition of gambling.

Source: Utah Legislature (HB 243 enrolled copy)

The Ninth Circuit denied the tribes' motion to assign the appeal to the panel hearing North American Derivatives Exchange v. Nevada (No. 25-7187), citing significant differences between the appeals.

Source: dockets.justia.com

The court granted the federal government a preliminary injunction barring Arizona's criminal and civil enforcement of its gambling and election-betting laws against event contracts on CFTC-registered exchanges.

Source: Arizona status report, 9th Cir. No. 26-4281 (Sept. 4, 2026)

U.S. District Judge John C. Coughenour remanded the state's Kalshi case to King County Superior Court.

Source: CoinStats prediction market legal tracker

The District of Arizona granted the CFTC and DOJ a preliminary injunction in their case against Arizona. The case was later stayed pending the Ninth Circuit, and Arizona has asked the Ninth Circuit to vacate the injunction as to sports contracts.

Source: K&L Gates 2026 Mid-Year Prediction Market Report

The Supreme Judicial Court heard argument on Kalshi's appeal (SJC-13906); reports described the justices as skeptical of Kalshi. No decision had been reported as of Oct. 19, 2026.

Source: CDC Gaming / InGame

Attorney General Lynn Fitch joined a coalition of state attorneys general in a comment letter urging the CFTC to leave sports-related event contracts to state regulation.

Source: Clarke County Tribune

New York moves to remand to state court.

Source: dockets.justia.com

New York moves to remand.

Source: dockets.justia.com

PI motion filed.

Source: dockets.justia.com

The Alabama attorney general was one of 41 attorneys general on a comment letter asking the CFTC to confirm in rulemaking that it lacks jurisdiction over sports-related event contracts.

Source: Colorado Attorney General (coalition press release)

Attorney General Drummond and 40 other attorneys general filed a comment asking the CFTC to confirm through rulemaking that it lacks jurisdiction over sports-related contracts, leaving states free to regulate or ban sports gambling on prediction market platforms.

Source: Oklahoma Attorney General

The Senate agreed to S. Res. 708 (Sen. Bernie Moreno), amending Senate Rule XXXVII to bar senators, officers and employees from event-contract trading. It is the only federal prediction-market measure adopted so far, and as a Senate rules change it needs no House action.

Source: S. Res. 708, agreed-to text (GovInfo)

Sens. Dave McCormick and Kirsten Gillibrand introduced S. 4469, the Prediction Market Act of 2026. It would write event-contract rules into the CEA, keep CFTC case-by-case review, and bar members of Congress and certain officials from trading.

Source: S. 4469 bill text (GovInfo)

Judge Woodbury, who had announced the ruling from the bench on April 3, 2026, entered a preliminary injunction requiring Kalshi to stop offering sports, election and entertainment contracts to Nevada residents by May 4, 2026.

Source: DeFi Rate

The CFTC sued Gov. Tony Evers, AG Kaul and the Division of Gaming administrator in the Eastern District of Wisconsin, seeking a declaration that federal law preempts state gambling law as applied to exchange-listed event contracts.

Source: The Block

Case accepted as related to the Coinbase removal (No. 1:26-cv-03300) and reassigned to Judge Marrero.

Source: dockets.justia.com

Accepted as related to New York's removed petition against Coinbase (No. 1:26-cv-03300).

Source: dockets.justia.com

The CFTC sued Wisconsin days after the state filed civil suits against Kalshi, Polymarket, Crypto.com, Robinhood and Coinbase.

Source: CFTC Release 9220-26

Court agrees to send the Tennessee appeal to the same merits panel as the Ohio appeal.

Source: dockets.justia.com

Nicholas Brown filed suit against Kalshi Inc. in the Western District of Washington (No. 2:26-cv-01426), citing diversity jurisdiction.

Source: dockets.justia.com

The CFTC filed an amicus brief in the Supreme Judicial Court supporting Kalshi's federal preemption arguments.

Source: CFTC amicus brief, SJC-13906

The United States and the CFTC sued New York, the governor, the attorney general and Gaming Commission officials (S.D.N.Y. No. 1:26-cv-03404) to block state enforcement against CFTC-registered markets.

Source: DeFi Rate prediction market lawsuit tracker

The Sixth Circuit denied Kalshi's motion for an injunction pending appeal.

Source: Justia Dockets (6th Cir. No. 26-3196)

Defendants removed the state's case to the Western District of Wisconsin; the Polymarket and Crypto.com cases were also removed.

Source: CoinStats prediction market legal tracker

The CFTC sued New York in the Southern District of New York to stop the state from applying its gambling laws to CFTC-registered DCMs. The same day it filed a brief in the Massachusetts Supreme Judicial Court backing exclusive federal jurisdiction (Commonwealth v. KalshiEx, SJC-13906).

Source: CFTC Release 9218-26

Attorney General Kaul filed three Dane County suits alleging that sports event contracts violate Wis. Stat. 945.03(1m) and create a public nuisance, seeking declarations and injunctions.

Source: Wisconsin Department of Justice

Case reassigned to Judge Victor Marrero.

Source: dockets.justia.com

A magistrate judge signed an order unsealing the indictment in United States v. Gannon Ken Van Dyke, 26 Cr. 156 (S.D.N.Y.), on the government's application.

Source: storage.courtlistener.com

The Justice Department announced the unsealing of a five-count indictment in the Southern District of New York (three Commodity Exchange Act counts, wire fraud, and an unlawful monetary transaction); the case was assigned to Judge Margaret M. Garnett. The CFTC filed a parallel civil complaint the same day.

Source: justice.gov

The CFTC filed a civil complaint in the Southern District of New York (No. 1:26-cv-03369) alleging Commodity Exchange Act and CFTC rule violations, in parallel with the criminal indictment.

Source: cftc.gov

SDNY prosecutors indicted Gannon Ken Van Dyke, and the CFTC filed a parallel civil case. Both allege he used nonpublic information about the operation to capture Nicolas Maduro to trade a Polymarket contract, making over $404,000.

Source: CFTC Release 9217-26

Gemini Titan removes the petition to federal court.

Source: dockets.justia.com

Crypto.com's exchange allowed to intervene.

Source: dockets.justia.com

Case deadlines stayed on the parties' stipulated motion while they negotiate.

Source: dockets.justia.com

Putative class action filed in Nevada state court (date per the Bransfield tracker; not docket-verified).

Source: mickbransfield.com

The attorney general sued Coinbase Financial Markets and Gemini Titan in New York County Supreme Court over unlicensed gambling; both cases were removed to federal court.

Source: DeFi Rate New York guide

Law360 reported that the district court asked the parties to address whether the case should be paused pending Ninth Circuit rulings in the Nevada prediction-market litigation (exact order date not confirmed); the court later stayed the case on May 22, 2026.

Source: law360.com

Oral argument in San Francisco (Nelson, Bade, Lee).

Source: law.justia.com

Argued and submitted.

Source: dockets.justia.com

Argued and submitted.

Source: dockets.justia.com

Docket entry shows the case as argued and submitted; the court later noted it was submitted in error because the appeal had not been briefed.

Source: dockets.justia.com

The OCCC gave Kalshi notice of a proposed $5 million fine for offering unlicensed sports wagering; the penalty was not final.

Source: Covers

Briefing schedule set.

Source: dockets.justia.com

Kalshi sued Attorney General Austin Knudsen, Gambling Control Division officials and five commission members in the District of Montana (No. 6:26-cv-00028), seeking to block enforcement on federal preemption grounds.

Source: SBC Americas

Judge Michael Liburdi issued a temporary restraining order halting Arizona's enforcement against Kalshi; the scheduled arraignment was called off.

Source: Courthouse News (AP)

At the CFTC's request, the U.S. District Court for the District of Arizona issued a temporary restraining order halting Arizona's criminal proceedings against CFTC-regulated contract markets.

Source: CFTC Release 9211-26

Judge Liburdi denied Kalshi's own motion for a TRO and preliminary injunction, relying mainly on the Anti-Injunction Act; Kalshi appealed in May (9th Cir. No. 26-2978), and that appeal is stayed.

Source: InGame

The Division sent a second cease-and-desist letter, saying the earlier forbearance depended on Kalshi's Nevada injunction, which had since been dissolved.

Source: SBC Americas

The Third Circuit affirmed the injunction 2-1 (Judge Porter writing, Judge Roth dissenting), finding the contracts likely swaps and New Jersey law likely preempted.

Source: Third Circuit opinion, KalshiEX v. Flaherty

In KalshiEX v. Flaherty (No. 25-1922), a divided Third Circuit panel affirmed a preliminary injunction barring New Jersey from enforcing its gaming laws against Kalshi's sports event contracts. It found the CEA likely preempts those laws as applied.

Source: Supreme Court docket No. 26-299 (lower-court judgment date)

Judge Jason Woodbury announces from the bench that he will grant the Board's preliminary-injunction motion; written order to follow, TRO extended.

Source: gaming.nv.gov

The United States and the CFTC sued Arizona in federal court, arguing the Commodity Exchange Act preempts state enforcement against CFTC-registered exchanges.

Source: Action Network prediction market lawsuit tracker

The United States and the CFTC sued Connecticut in federal court, arguing federal law preempts its enforcement against CFTC-registered exchanges.

Source: Vultax lawsuit tracker

Complaint filed.

Source: cftc.gov

The CFTC filed its first suits against states, seeking declarations that it has exclusive authority over event contracts on DCMs and injunctions against enforcement of state gambling laws. These suits began a series of federal actions against states.

Source: CFTC Release 9206-26

CFTC Director of Enforcement David Miller named insider trading in prediction markets as one of the division's priorities for 2026.

Source: K&L Gates 2026 Mid-Year Prediction Market Report

Robinhood Derivatives sued the attorney general and the Gambling Commission in federal court in Tacoma to block enforcement against event contracts it distributes.

Source: GeekWire

Case stayed on joint motion; parties to file a status report within 7 days of the Sixth Circuit mandate.

Source: dockets.justia.com

Polymarket entities file reply in support of stay motion.

Source: dockets.justia.com

Attorney General Nick Brown sued Kalshi in King County Superior Court under the Gambling Act and the Consumer Protection Act, seeking to stop the activity, recover residents' losses and obtain civil penalties. Kalshi removed the case to federal court.

Source: Washington Attorney General

Sen. Merkley (S. 4226) and Rep. Jamie Raskin (H.R. 8123) introduced the STOP Corrupt Bets Act. It would prohibit event contracts on elections, government and military actions and sports, preserve state gambling laws, and order a GAO study.

Source: Rep. Raskin press release

Rep. Nikki Budzinski, with Reps. Adrian Smith and Seth Magaziner, introduced H.R. 8076, the PREDICT Act. It would bar members of Congress, staff, senior executive officials and federal judges from trading political event contracts.

Source: H.R. 8076 bill text (GovInfo)

Selig created an Innovation Task Force, led by senior advisor Michael Passalacqua. Prediction markets and event contracts are one of its three focus areas, alongside crypto assets and AI.

Source: CFTC Release 9201-26

Tennessee officials' appeal docketed (No. 26-5235).

Source: dockets.justia.com

Appeal docketed.

Source: dockets.justia.com

Appeal docketed.

Source: dockets.justia.com

Sens. Adam Schiff, John Curtis and Catherine Cortez Masto introduced S. 4160, the Prediction Markets Are Gambling Act, to stop registered entities from listing sports and casino-style contracts. Nevada Reps. Horsford and Amodei filed a House version (H.R. 9856) on July 22.

Source: S. 4160 bill text (GovInfo)

Judge Jason Woodbury granted the Board an ex parte TRO against Kalshi.

Source: Bloomberg

Court denies Kalshi's motion for an injunction pending appeal.

Source: dockets.justia.com

Judge Rochon approved a stipulation consolidating Jennings with the already-consolidated Yee, Pelayo and Hallman actions, setting a consolidated complaint for April 7, 2026 and a motion to compel arbitration for May 5, 2026 (responses June 4, 2026, replies June 25, 2026).

Source: dockets.justia.com

State officials told NHPR they had not pursued legal action and were monitoring cases elsewhere; the Lottery Commission director warned prediction markets could erode sports betting revenue.

Source: New Hampshire Public Radio

Emergency administrative stay denied.

Source: dockets.justia.com

The CFTC and MLB agreed to share information on the integrity of professional baseball and related prediction markets, the agency's first such agreement with a sports league.

Source: CFTC Release 9199-26

Attorney General moves to remand.

Source: dockets.justia.com

The attorney general filed a 20-count misdemeanor criminal information in Maricopa County Superior Court against KalshiEX LLC and Kalshi Trading LLC, covering sports and election contracts.

Source: SBC Americas

Kalshi seeks TRO/PI; defendants disclose a state criminal indictment.

Source: dockets.justia.com

Indictment disclosed in Kalshi's federal case.

Source: dockets.justia.com

Kalshi moves for a stay; Nevada moves to dismiss the appeal.

Source: dockets.justia.com

Motion to stay filed.

Source: dockets.justia.com

Renewed PI denied and motion to dismiss granted; notice of appeal filed.

Source: dockets.justia.com

After briefly recalling remand, federal court denies a stay and remands again.

Source: dockets.justia.com

Complaint filed.

Source: dockets.justia.com

DMO staff reminded DCMs of their obligations when listing event contracts, including Core Principle 3 and product-submission rules, with points specific to sports-related contracts. The release links to CFTC Staff Letter 26-08.

Source: CFTC Release 9193-26

The Commission issued an advance notice of proposed rulemaking, "Prediction Markets" (RIN 3038-AF65). It asks about core principles, inside information, public-interest reviews and how event contracts are classified. It was published March 16, 2026 at 91 FR 12516, with comments due April 30, 2026.

Source: CFTC Federal Register page, 91 FR 12516

Kalshi sued Iowa's attorney general and gaming regulators in the Southern District of Iowa, arguing federal law preempts state gambling and election-betting laws.

Source: DeFi Rate legal tracker

Kalshi notices appeal (March 10, 2026); Sixth Circuit assigns No. 26-3196.

Source: dockets.justia.com

Appeal docketed.

Source: dockets.justia.com

The plaintiff filed an amended complaint; the earlier dismissal motions were terminated and renewed motions were due March 31, 2026.

Source: dockets.justia.com

Chief Judge Sarah D. Morrison denied Kalshi's motion for a preliminary injunction; Kalshi filed a notice of appeal the next day (6th Cir. No. 26-3196).

Source: Justia Dockets (S.D. Ohio No. 2:25-cv-01165)

Preliminary-injunction motion filed.

Source: dockets.justia.com

Appeal docketed (No. 26-1343).

Source: dockets.justia.com

Appeal docketed.

Source: dockets.justia.com

Judge William G. Young approved a joint request to pause Polymarket's federal case until the state appellate courts review the Kalshi injunction.

Source: Bloomberg Law

The attorney general, for the state and the Gaming Control Board, sued Kalshi in Ingham County Circuit Court under the Lawful Sports Betting Act and public-nuisance law.

Source: Michigan Attorney General press release

Appeal docketed.

Source: dockets.justia.com

Sen. Jeff Merkley and four Democratic cosponsors introduced S. 4017, the End Prediction Market Corruption Act, covering the President, Vice President and members of Congress. A bipartisan House bill (H.R. 7840) introduced the same day would prohibit several categories of event contracts.

Source: S. 4017 bill text (GovInfo)

Polymarket (QCX) and Robinhood each sued the attorney general in federal court in the Western District of Michigan, seeking to block state enforcement.

Source: Prediction Market Litigation Tracker (mickbransfield.com)

Joint motion to stay and stipulated dismissal of the Gaming Commission members without prejudice.

Source: dockets.justia.com

Judge Gregory F. Van Tatenhove granted remand to Franklin Circuit Court (order entered March 4, 2026).

Source: dockets.justia.com

Federal court grants Nevada's emergency remand motion.

Source: dockets.justia.com

Federal court remands the case.

Source: vultax.com

Consolidated with Nos. 25-7187 and 25-7831 for argument.

Source: dockets.justia.com

Consolidated with Nos. 25-7187 and 25-7516.

Source: dockets.justia.com

Consolidated with Nos. 25-7516 and 25-7831.

Source: dockets.justia.com

The Alabama court transferred Jennings to the Southern District of New York on the defendants' joint motion.

Source: dockets.justia.com

PI/TRO motion filed; TRO request withdrawn.

Source: dockets.justia.com

The Division of Enforcement said the Commission can pursue insider trading, wash trading, manipulation and fraud on any DCM. It cited two 2025 Kalshi disciplinary cases: a candidate who traded on his own race and a YouTube channel editor.

Source: CFTC Release 9185-26

PI argument; motion taken under advisement.

Source: dockets.justia.com

Kalshi filed a preemptive federal suit against Gov. Spencer Cox, Attorney General Derek Brown and other officials, seeking to block enforcement of Utah's gambling laws against its contracts.

Source: CoinStats prediction market legal tracker

Judge Trauger granted Kalshi a preliminary injunction against state enforcement, finding the contracts likely swaps and state law likely preempted; the Council itself was dismissed from the case.

Source: SBC Americas

Appeals Court Justice Sabita Singh (No. 2026-J-0143) granted Kalshi's motion to stay the injunction pending appeal, without expressing a view on the merits, and expedited the appeal.

Source: Bloomberg Law

The Gaming Control Board sued Kalshi in the First Judicial District Court in Carson City, alleging unlicensed wagering.

Source: Prediction Market Litigation Tracker (mickbransfield.com)

Robinhood and the Kalshi, Susquehanna and Webull defendants moved to dismiss.

Source: dockets.justia.com

In its first amicus filing for operators, the CFTC told the Ninth Circuit in North American Derivatives Exchange v. Nevada that it has exclusive jurisdiction over event contracts on DCMs and that states may not separately regulate them.

Source: CFTC Release 9183-26

The CFTC named the committee's members. They include the chief executives of Kalshi, Polymarket, Crypto.com, Robinhood, CME Group and DraftKings and the president of FanDuel.

Source: CFTC Release 9182-26

PI hearing.

Source: dockets.justia.com

PI hearing.

Source: dockets.justia.com

Rep. Dina Titus introduced H.R. 7477, the Fair Markets and Sports Integrity Act, to bar prediction markets from offering sports-event and casino-style contracts.

Source: H.R. 7477 bill text (GovInfo)

Polymarket sued in federal court to stop the attorney general from enforcing state sports-wagering licensing law against it.

Source: Prediction Market Litigation Tracker (mickbransfield.com)

Motion denied and complaint dismissed.

Source: dockets.justia.com

Coinbase's parallel federal suit seeking to stop the state action is dismissed (D. Nev. No. 2:26-cv-00256).

Source: dockets.justia.com

Judge Barry-Smith entered the injunction and denied Kalshi's emergency motion to stay it, allowing 30 days for compliance so Kalshi could seek a stay from the Appeals Court.

Source: InGame

The state court issued a TRO in the Board's case against Coinbase Financial Markets, followed by a preliminary injunction on March 26, 2026.

Source: Prediction Market Litigation Tracker (mickbransfield.com)

Bloomberg reported that the U.S. Attorney for the Southern District of New York said his office was examining prediction-market conduct under federal fraud statutes.

Source: K&L Gates 2026 Mid-Year Prediction Market Report (citing Bloomberg)

Complaint and emergency TRO/PI motion filed.

Source: dockets.justia.com

The Commission withdrew the June 2024 event-contracts proposal, and staff withdrew Staff Letter 25-36. Selig said the agency would start a new event-contracts rulemaking based on its reading of the CEA.

Source: CFTC Release 9179-26

Nevada Gaming Control Board files a civil enforcement action against Coinbase Financial Markets in the Carson City district court, seeking a declaration and injunction.

Source: gaming.nv.gov

The attorney general issued an industry alert about prediction markets, according to CBS Sports.

Source: CBS Sports

Judge Jason Woodbury of the Carson City district court issued a 14-day TRO in the Board's case against Blockratize (Polymarket); a preliminary injunction followed and was amended on May 29, 2026.

Source: Covers

Christopher Jennings filed a class action against Kalshi entities and Susquehanna in the Middle District of Alabama (No. 2:26-cv-00071).

Source: dockets.justia.com

In his first public remarks as Chairman, Selig spoke favorably of prediction markets and said he had directed staff to withdraw the 2024 proposal and the 2025 sports advisory.

Source: K&L Gates 2026 Mid-Year Prediction Market Report

The Gaming Board sent Polymarket a cease-and-desist letter.

Source: Illinois Gaming Board cease-and-desist letters page

Kalshi's reply brief filed.

Source: dockets.justia.com

Suffolk Superior Court granted the attorney general's preliminary injunction barring Kalshi from offering sports event contracts in Massachusetts without a state license.

Source: ZwillGen

Judge Aleta Trauger granted Kalshi a temporary restraining order, allowing it to keep offering sports contracts in Tennessee.

Source: SBC Americas

Stipulated order governing enforcement actions entered.

Source: dockets.justia.com

Selig replaced the Technology Advisory Committee with a new Innovation Advisory Committee to advise the Commission on emerging products, platforms and business models.

Source: CFTC Release 9167-26

The Sports Wagering Council ordered the three platforms to stop offering sports event contracts to Tennesseans, void pending contracts and refund customer deposits by January 31, 2026. The letters cited tiered fines of $10,000 to $25,000 per violation and possible criminal referral.

Source: The Block

Kalshi sued the Council, its executive director Mary Beth Thomas and Attorney General Jonathan Skrmetti in the Middle District of Tennessee.

Source: SBC Americas

A pretrial conference order set dispositive motions for Nov. 10, 2026 and jury selection and trial for May 24, 2027 (dates may have been affected by the later reported stay).

Source: dockets.justia.com

Rep. Ritchie Torres introduced H.R. 7004, the Public Integrity in Financial Prediction Markets Act, the first 2026 bill aimed at trading by federal officials. A bipartisan Senate companion (S. 4188) followed in March.

Source: H.R. 7004 bill text (GovInfo)

Reconsideration granted; case reopened.

Source: dockets.justia.com

Preliminary-injunction motion filed.

Source: dockets.justia.com

After Senate confirmation, Michael S. Selig was sworn in as the 16th Chairman of the CFTC. He has since led the agency's prediction-market rulemakings and its lawsuits against states.

Source: CFTC Release 9164-25

Preliminary-injunction motion filed.

Source: dockets.justia.com

Complaint filed.

Source: dockets.justia.com

Complaint and PI motion filed.

Source: dockets.justia.com

Complaint filed.

Source: dockets.justia.com

Maryland's response brief filed.

Source: dockets.justia.com

Appeal docketed (No. 25-7831).

Source: dockets.justia.com

Appeal docketed.

Source: dockets.justia.com

The Divisions of Market Oversight and Clearing and Risk issued no-action letters (Staff Letters 25-44, 25-45, 25-47 and 25-48) giving several registered entities relief from certain swap recordkeeping and SDR reporting requirements for binary event contracts.

Source: CFTC Release 9154-25

The Gambling Commission said event-based contract platforms are not authorized in Washington and pointed residents to tribal sportsbooks.

Source: Washington State Gambling Commission

Stipulated order: no enforcement while the PI motion is pending.

Source: dockets.justia.com

The Department of Gaming notified Underdog that it intended to revoke its fantasy sports contest operator license.

Source: Arizona Department of Gaming notice (via Mick Bransfield tracker)

The Gaming Control Board sent an advisory notice to all sports-wagering licensees and platform provider permittees stating its position that offering or facilitating sports event contracts is sports wagering under Louisiana law, even on CFTC-registered exchanges, and that it could affect their licenses.

Source: Louisiana Gaming Control Board / SBC Americas

DCP's Gaming Division ordered the three platforms to stop offering sports event contracts to Connecticut residents and to let residents withdraw funds.

Source: Connecticut DCP press release

Judge Saylor heard the remand motion and took it under advisement.

Source: dockets.justia.com

A spokesperson for Gov. McMaster said the governor's office considers prediction markets illegal sports betting in South Carolina; the AG's office had not filed suit (date is the article date).

Source: The Post and Courier

Kalshi's appeal of the dissolution docketed (No. 25-7516).

Source: dockets.justia.com

Appeal docketed.

Source: dockets.justia.com

The tribes' appeal of the preliminary-injunction denial was docketed in the Ninth Circuit as No. 25-7504.

Source: dockets.justia.com

The CFTC approved an amended order of designation for QCX LLC (Polymarket US). It lets the exchange run an intermediated platform and onboard customers through futures commission merchants and brokers.

Source: Covers

The U.S. District Court for Nevada dissolved the preliminary injunction that had shielded Kalshi from state enforcement.

Source: Prediction Market Litigation Tracker (mickbransfield.com)

The Kalshi defendants moved to dismiss the complaint.

Source: ingame.com

The plaintiff moved to remand to state court.

Source: dockets.justia.com

A stipulated order set a schedule for Kalshi's motion to compel arbitration and/or dismiss (due Jan. 14, 2026), with a hearing to be sought in April 2026.

Source: dockets.justia.com

The court consolidated No. 3:25-cv-00053 into lead case No. 3:25-cv-00054.

Source: dockets.justia.com

Appeal docketed (No. 25-7187).

Source: dockets.justia.com

Appeal docketed.

Source: dockets.justia.com

Dismissed without prejudice as unripe; PI denied as moot.

Source: dockets.justia.com

Judge Jacqueline Scott Corley denied the tribes' motion for a preliminary injunction, finding they had not shown a likelihood of success on their IGRA or Lanham Act theories on the existing record.

Source: ingame.com

The plaintiff moved to remand to state court.

Source: dockets.justia.com

The plaintiff moved to remand to state court.

Source: dockets.justia.com

Judge Richard Stearns of the District of Massachusetts (No. 1:25-cv-12595) remanded the case to state court after Kalshi tried to remove it.

Source: D. Mass. remand order (via InGame)

Kalshi sued the Gaming Commission and its commissioners in the Southern District of New York (No. 1:25-cv-08846), arguing federal preemption.

Source: S.D.N.Y. opinion and order, KalshiEX v. Williams

Complaint filed.

Source: dockets.justia.com

The State Gaming Commission ordered Kalshi to stop offering what it called an unlicensed mobile sports wagering platform.

Source: S.D.N.Y. opinion and order, KalshiEX v. Williams

AG Opinion 2025-073, requested by Sen. Bryan King, concluded that a Kalshi-style business offering sports event contracts is gambling under Arkansas law and requires a license.

Source: Arkansas AG Opinion 2025-073

IGB memo to licensees said prediction markets offering sports event contracts are gambling under Illinois law and partnering with them can affect license suitability.

Source: Illinois Gaming Board memorandum

The plaintiff moved to remand to state court.

Source: dockets.justia.com

No. 1:25-cv-11394 was consolidated into No. 1:25-cv-11374 before Judge Manish S. Shah.

Source: dockets.justia.com

Robinhood removed the case from Franklin Circuit Court (No. 25-CI-00512) to the Eastern District of Kentucky.

Source: dockets.justia.com

Daniel Yee filed suit against KalshiEX LLC and related Kalshi entities (No. 1:25-cv-08585), invoking diversity jurisdiction.

Source: dockets.justia.com

Kalshi's opening brief filed.

Source: dockets.justia.com

Preliminary injunction denied (815 F. Supp. 3d 1169).

Source: law.justia.com

The court consolidated Nos. 8:25-cv-12859 and 8:25-cv-12867.

Source: dockets.justia.com

The Pennsylvania Gaming Control Board sent Congress a letter warning that prediction markets create a backdoor to legalized sports betting (date is the Law360 article date).

Source: Law360

Kalshi sued Ohio Casino Control Commission (OCCC) members and staff and then-Attorney General Dave Yost in the Southern District of Ohio, arguing that federal law preempts state enforcement against its event contracts.

Source: Justia Dockets (S.D. Ohio No. 2:25-cv-01165)

The Robinhood defendants removed the case from the Oconee County Court of Common Pleas (No. 2025CP3700563).

Source: dockets.justia.com

The case was removed from the State Court of Muscogee County (No. SC2025CV001749); two removal notices were consolidated on Oct. 7, 2025.

Source: dockets.justia.com

Commission staff issued an advisory to certain contract markets about sports-related event contracts. Staff withdrew it in February 2026, after the Chairman said it had created confusion.

Source: CFTC Release 9179-26 (describing Staff Letter 25-36)

Notice of removal filed in the District of Massachusetts.

Source: dockets.justia.com

The case was removed from the Circuit Court of Cook County (No. 2025L007524) to the Northern District of Illinois.

Source: dockets.justia.com

Case appears on the D. Mass. docket as No. 1:25-cv-12595 (apparent removal).

Source: dockets.justia.com

The Department of Gaming sent a notice to its licensed operators about involvement with prediction markets.

Source: Arizona Department of Gaming notice (via Mick Bransfield tracker)

Complaint filed.

Source: dockets.justia.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)

The attorney general sued Kalshi in Suffolk Superior Court, alleging it offers sports wagering in Massachusetts without a license.

Source: SBC Americas

Oral argument.

Source: law.justia.com

The plaintiff moved to remand (renewed Sept. 5, 2025 as to Robinhood Markets); briefing closed Oct. 10, 2025.

Source: dockets.justia.com

Consent order grants preliminary relief and administratively stays the case.

Source: dockets.justia.com

The Ho-Chunk Nation sued Kalshi and Robinhood in the Western District of Wisconsin, alleging that sports event contracts amount to unauthorized Class III gaming on tribal lands, with additional Lanham Act and RICO claims.

Source: CoinStats prediction market legal tracker

Robinhood Derivatives sued New Jersey officials in federal court seeking similar protection.

Source: Prediction Market Litigation Tracker (mickbransfield.com)

Complaint filed.

Source: dockets.justia.com

Robinhood also files a TRO/preliminary-injunction motion; Chief Judge Andrew P. Gordon presides (Judge Mahan recused Aug. 20, 2025).

Source: dockets.justia.com

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

Maryland agreed in writing not to enforce its gambling laws against Kalshi while the appeal is pending.

Source: CoinStats Kalshi legal tracker (Maryland)

Kalshi's appeal docketed in the Fourth Circuit.

Source: dockets.justia.com

Appeal docketed.

Source: dockets.justia.com

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.

Source: CoinStats Kalshi legal tracker (Maryland)

Robinhood Derivatives removed the case to the Northern District of Ohio; a second removal by Robinhood Markets followed on Aug. 28, 2025, and the federal cases were consolidated.

Source: dockets.justia.com

Three tribes sued Kalshi and Robinhood in the Northern District of California, alleging sports contracts offered on their lands violate IGRA and their compacts.

Source: DeFi Rate legal tracker

The CFTC designated QCX LLC as a contract market. Polymarket announced in July 2025 that it was buying QCX and its affiliated clearinghouse (QCEX) for a reported $112 million, and QCX now operates under the name Polymarket US.

Source: CFTC DCM filing page, QCX LLC d/b/a Polymarket US

Complaint filed in the Mahoning County Court of Common Pleas (No. 2025 CV 01517).

Source: dockets.justia.com

Complaint filed.

Source: dockets.justia.com

Nevada Resort Association allowed to intervene.

Source: dockets.justia.com

The Arizona Department of Gaming sent KalshiEX and its CEO a cease-and-desist letter saying Kalshi was accepting unlawful wagers.

Source: Kalshi/CFTC motion for TRO and PI, D. Ariz. CV-26-01715 (ECF 49)

Proceedings stayed pending the Third Circuit mandate.

Source: dockets.justia.com

Appeal docketed.

Source: dockets.justia.com

State defendants appeal to the Third Circuit.

Source: dockets.justia.com

D.C. Circuit grants the CFTC's unopposed motion and dismisses its appeal, leaving the ruling in place.

Source: covers.com

Court grants the motion and dismisses the appeal.

Source: covers.com

CFTC files an unopposed motion to dismiss its appeal.

Source: covers.com

Under the new administration, the CFTC filed an unopposed motion to voluntarily dismiss its D.C. Circuit appeal, leaving the 2024 district court ruling in place. Trade press reported on May 8, 2025 that the court had granted the dismissal.

Source: Cointelegraph

Judge Edward Kiel of the District of New Jersey granted Kalshi a preliminary injunction barring state enforcement of its gambling laws against Kalshi's sports contracts.

Source: Third Circuit opinion, KalshiEX v. Flaherty

Complaint filed.

Source: dockets.justia.com

Complaint filed.

Source: dockets.justia.com

According to Kalshi's later complaint, the Division confirmed in writing that it would not enforce against Kalshi while Kalshi's Nevada litigation was pending and would give notice first.

Source: SBC Americas

Written order granting a preliminary injunction (2025 WL 1073495).

Source: law.justia.com

Maryland regulators sent Kalshi a cease-and-desist letter over its sports event contracts.

Source: Prediction Market Litigation Tracker (mickbransfield.com)

North Carolina gaming authorities told EGR they were keeping watch on prediction markets offering sports event contracts; no action was described.

Source: EGR North America

The Kansas Racing and Gaming Commission was reported to be watching the Kalshi lawsuits and said it may get involved; no action followed.

Source: EGR North America

The Illinois Gaming Board sent cease-and-desist letters to Kalshi, Crypto.com and Robinhood over unlicensed sports wagering.

Source: Illinois Gaming Board cease-and-desist letters page

Complaint and TRO/PI motion filed.

Source: dockets.justia.com

Complaint and TRO/PI motion filed.

Source: dockets.justia.com

The Gambling Control Division's chief legal counsel ordered KalshiEX to stop letting people in Montana trade sports event contracts, citing state gambling and sports-wagering statutes and warning of legal action.

Source: Montana DOJ Gambling Control Division letter (via KTVH/Scripps)

CFTC files its opening merits brief.

Source: dockets.justia.com

Panel denies the stay without prejudice and dissolves the administrative stay (opinion by Judge Millett).

Source: law.justia.com

A D.C. Circuit panel (Millett, Pillard and Pan) in No. 24-5205 denied the CFTC's stay motion without prejudice, finding no showing of irreparable harm, and dissolved the administrative stay. The merits were left undecided.

Source: D.C. Circuit opinion, No. 24-5205

Oral argument on the stay motion.

Source: dockets.justia.com

Memorandum opinion released (2024 WL 4164694); at a hearing the same day the court denies the CFTC's request for a stay pending appeal.

Source: abc17news.com

CFTC files notice of appeal and emergency stay motion; administrative stay entered.

Source: dockets.justia.com

The CFTC filed a notice of appeal to the D.C. Circuit and an emergency motion to stay the district court's judgment while the appeal was pending.

Source: Davis Wright Tremaine

Judge Cobb rules for Kalshi on the cross-motions for summary judgment and vacates the CFTC order (the order the CFTC appealed).

Source: dockets.justia.com

Judge Jia M. Cobb granted Kalshi summary judgment in No. 1:23-cv-03257 and vacated the CFTC's September 2023 order blocking the congressional-control contracts, with a memorandum opinion to follow.

Source: D.D.C. Order, ECF 47 (CourtListener)

The Commission published a proposed rule titled "Event Contracts" (89 FR 48968) to amend Rule 40.11. Commentators describe it as effectively barring political-contest contracts, among others. It was never finalized and was withdrawn on February 4, 2026.

Source: CFTC Release 9179-26 (describing the June 10, 2024 proposal)

Kalshi files suit; assigned to Judge Jia M. Cobb.

Source: dockets.justia.com

Using CEA Section 5c(c)(5)(C) and Rule 40.11, the Commission barred Kalshi from listing contracts on which party would control each chamber of Congress. It found they involved unlawful gaming under state law and were contrary to the public interest. Commissioner Mersinger dissented.

Source: CFTC Release 8780-23

The CFTC issued an order designating KalshiEX LLC as a designated contract market (DCM) under CEA Section 5. It became the first federally regulated exchange built around event contracts.

Source: CFTC Release 8302-20