Prediction market operator Kalshi has asked a federal appeals court to block Connecticut from enforcing its gambling laws against the company, escalating a fight over whether sports event contracts are federally regulated financial instruments or illegal sports bets.
KalshiEX LLC filed an emergency motion Monday with the 2nd U.S. Circuit Court of Appeals in New York, asking the court to halt state enforcement while it appeals an Aug. 10 ruling by U.S. District Judge Vernon D. Oliver in Hartford. Oliver refused to shield Kalshi from Connecticut gambling regulators.
The state opposed the request Tuesday, asking the appeals court to deny emergency relief and give Attorney General William Tong’s office until Aug. 24 to file a full response.
