Washington Court Blocks Kalshi's Sports Prediction Markets, Citing State Gambling Law Violations

KALSHI-7.33%
According to a court filing on Monday, Judge John McHale of King County Superior Court in Washington granted the state's motion for a preliminary injunction against Kalshi, blocking the prediction market platform from offering sports-related event contracts. The judge ruled that Kalshi "offers illegal gambling activities to Washington consumers," stating that the federal Commodity Exchange Act does not preempt state gambling laws. The preliminary injunction will take effect by August 5, pending review of additional materials by August 3. Kalshi disputed the ruling, asserting that states lack jurisdiction over prediction markets, though the company faces similar legal challenges in Michigan, Nevada, and New York.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments