Kalshi Suffers Setback in SDNY Court, Judge Torres Denies Preliminary Injunction Motion

CoinFeed July 8 news, according to crypto journalist Eleanor Terrett, Judge Torres, who previously presided over the Ripple case, is once again the focus of a major legal controversy. In Kalshi's Southern District of New York case, Judge Torres denied the exchange's preliminary injunction motion, ruling that New York State gambling laws apply to Kalshi's sports event contracts and are not preempted by the Commodity Exchange Act, and the case will proceed to the motion to dismiss stage.