Kalshi appealed to the Second Circuit after a New York federal judge denied its request to block state gambling officials from enforcing local laws against its sports event contracts.
Kalshi is appealing a New York federal judge's rejection of its bid to block state gambling officials from enforcing local laws against the prediction market platform's sports-related event contracts.&
In a notice filed on Tuesday in the US District Court for the Southern District of New York (SDNY), Kalshi said it would take the case to the US Court of Appeals for the Second Circuit. The appeal followed a same-day opinion and order denying the platform operator's motion for a preliminary injunction against officials at the New York State Gaming Commission.&
The appeal escalates a growing legal fight over whether sports prediction markets are federally regulated derivatives or state-regulated gambling products. This question has already split courts across the United States.
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