U.S. District Court Judge Anthony Gordon provided a detailed ruling that expanded on his decision Tuesday night to grant Kalshi’s motion for a preliminary injunction against the Nevada Gaming Control Board regarding the offering and trading of sporting-event contracts.
“Kalshi has shown a likelihood of success on the merits,” wrote Judge Gordon in the 17-page ruling. “Conversely, the defendants have not shown a likelihood of success on their countermotion for injunctive relief, so I deny their motion.”
It was another legal victory for Kalshi, following a key win in the U.S. Court of Appeals last October over the Commodity Futures Trading Commission (CFTC) that allowed it to offer election-event contracts in the run up to the 2024 U.S. presidential election.
