Federal judge blocks Illinois prediction market rules, siding with Kalshi
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A U.S. federal judge has blocked Illinois from enforcing several new rules against prediction-market platforms, finding that sports event contracts offered by companies such as Kalshi likely qualify as swaps under federal law. U.S. District Judge Martha Pacold granted preliminary injunctions in cas…
A U.S. federal judge has blocked Illinois from enforcing several new rules against prediction-market platforms, finding that sports event contracts offered by companies such as Kalshi likely qualify as swaps under federal law. U.S. District Judge Martha Pacold granted preliminary injunctions in cases involving KalshiEX, Coinbase and the Commodity Futures Trading Commission (CFTC), finding that some...