The prediction market platform saga in the US has taken another twist as Kalshi has won a temporary pause against a Connecticut gambling order preventing the platform from operating in the state.
US District Judge Vernon Oliver issued the ruling on Monday, temporarily preventing the state from enforcing a cease-and-desist notice that the state’s regulator, the Connecticut Department of Consumer Protection, issued on December 2.
Connecticut also issued cease-and-desist letters to Robinhood Derivatives and Crypto.com over similar allegations of operating in the state without a license.
In the cease-and-desist order, the department had ruled that Kalshi must stop offering what they argued was unlicensed online gambling.
