Prediction market operators received more good news this week as Kalshi won a preliminary restraining order and a temporary injunction against the New Jersey Division of Gaming Enforcement (NJDGE). Last month, the NJDGE issued cease-and-desist orders to Kalshi and Robinhood, another prediction market provider.
After receiving a cease-and-desist order from the NJDGE, Kalshi filed a motion for a preliminary restraining order and a temporary injunction with the U.S District Court for the District of New Jersey. In response, the NJDGE filed an opposition to Kalshi’s motion.
The NJDGE argues that Kalshi made its sporting event contracts available to New Jersey residents in violation of New Jersey sports betting laws and regulations.
