Federal Judge Hits Pause on Tennessee’s Case Against Kalshi

[etfs]

A Tennessee federal judge has temporarily blocked state regulators from taking enforcement action against Kalshi, allowing the company to continue operating while its lawsuit proceeds. Judge Aleta Trauger ruled that Kalshi would likely suffer “irreparable injury” if the state’s actions were allowed to continue.

The order restrains the Tennessee Sports Wagering Council and the state attorney general from enforcing a cease-and-desist notice. The court also signaled that Kalshi has a strong chance of success on the merits, suggesting the regulator’s actions may violate the company’s legal rights.

[cryptoenthusiast]

prediction markets vs sports betting is such a gray area, states hate not being in control