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Kalshi Sues New York Regulatory Agency Over Sports Betting Ban

2025.10.28 18:24:21

October 28th. As per CoinDesk, the prediction market platform Kalshi filed a federal lawsuit against the New York State Gaming Commission on October 28, 2025. It is challenging the state's ban on its sports-related contracts. Kalshi, being a CFTC-registered Designated Contract Market (DCM), maintains that under the Commodity Exchange Act, the CFTC has "exclusive jurisdiction" over derivatives traded on federal regulatory exchanges, and the intervention of New York State violates federal law. Earlier this year, the company self-certified sports event contracts with the CFTC, enabling users to engage in financial betting on match outcomes. Kalshi is seeking emergency relief to prevent New York State from enforcing its cease-and-desist order, claiming that failure to do so would cause irreparable harm to the platform and its users.
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