Overview
- Massachusetts asked a state judge on Tuesday for a preliminary injunction to block Kalshi from offering sports outcome contracts to residents, calling the business unlicensed gambling.
- A Nevada federal judge dissolved a prior injunction protecting Kalshi and ruled its prebuilt parlay and player‑prop‑style products are not swaps under federal law, opening the door to state gaming enforcement pending an appeal and stay request.
- A federal judge temporarily paused Connecticut’s cease‑and‑desist order against Kalshi, granting a short‑term halt while the case proceeds with briefing into early 2026.
- Arizona’s Department of Gaming issued cease‑and‑desist notices to multiple platforms, including Kalshi, as state officials cite gaps in age limits, taxes, and consumer safeguards compared with licensed sportsbooks.
- Even as legal challenges grow, Kalshi inked data integrations with CNN and CNBC and raised $1 billion at an $11 billion valuation, while the NFL said it will not engage with prediction markets without clearer regulatory protections.