Judge in the Kalshi case: Historical evidence shows no evidence that Congress intended to override state sports betting laws.

CoinFeed reported on March 11 that, according to The Block, a judge in the U.S. District Court for the Eastern District of Ohio rejected a preliminary injunction motion by prediction market platform Kalshi, which aimed to prevent state regulators from enforcing gambling laws on its event contracts. Judge Sarah D. Morrison stated in her ruling that "there is no historical evidence that Congress intended to supersede state sports betting laws." This case is part of a legal battle between Kalshi and the states, with the core dispute being whether event contracts offered by prediction markets constitute sports betting and should be governed by federal derivatives law or state gambling rules. Kalshi argues that its event contracts are governed by commodity exchange law, which should supersede state law. Last year, the Ohio Gaming Commission accused Kalshi of operating illegal sports betting in the state. Kalshi stated that it will appeal the ruling.