Kalshi Sues New York Regulatory Agency Over Sports Betting Ban

By: theblockbeats.news|2025/10/28 18:45:54

0

Share

copy

BlockBeats News, October 28th. According to CoinDesk, the prediction market platform Kalshi filed a federal lawsuit against the New York State Gaming Commission on October 28, 2025, challenging the state's ban on its sports-related contracts. Kalshi, as a CFTC-registered Designated Contract Market (DCM), argues that under the Commodity Exchange Act, the CFTC has "exclusive jurisdiction" over derivatives traded on federal regulatory exchanges, and New York State's intervention violates federal law.

Earlier this year, the company self-certified sports event contracts with the CFTC, allowing users to engage in financial betting on match outcomes. Kalshi is seeking emergency relief to prevent New York State from enforcing its cease-and-desist order, stating that failure to do so would cause irreparable harm to the platform and its users.

-- Price

You may also like

Pantera Capital: How has Crypto as a Service affected us?

Pantera Capital: How has Crypto as a Service affected us?

If you are planning to start a business in 2026, my advice is simple: Instead of just talking about technology, focus more on how you can solve real-world problems.

Pantera Capital: What changes have we made when crypto is treated as a service?

Pantera Capital: What changes have we made when crypto is treated as a service?

If you are planning to start a business in 2026, my advice is simple: stop talking excessively about technology and focus more on the actual problems you can solve.

Wall Street Shorts ETH: Vitalik is aware and has front-run, while Tom Lee remains oblivious

Wall Street Shorts ETH: Vitalik is aware and has front-run, while Tom Lee remains oblivious

"The Ethereum token economic model has collapsed, wake up and see this clearly."

Social Capital CEO: How Equity Tokenization is Reshaping Capital Markets from US Stocks to SpaceX?

Social Capital CEO: How Equity Tokenization is Reshaping Capital Markets from US Stocks to SpaceX?

Equity tokens represent the next challenge: can tokenization expand from payments to ownership of financial assets?

CoinGecko Report: Surge of 346% vs Dip of 20.8%, The Wild Rise of DEX

CoinGecko Report: Surge of 346% vs Dip of 20.8%, The Wild Rise of DEX

A large-scale capital migration driven by platforms such as Hyperliquid towards decentralized infrastructure from centralization.

a16z: The Real Opportunity of Stablecoins Lies Not in Disruption but in Filling Gaps

a16z: The Real Opportunity of Stablecoins Lies Not in Disruption but in Filling Gaps

The opportunity for stablecoins lies with those merchants that have yet to emerge.

Mining Exodus: Someone Holds $12.8 Billion AI Order

Mining Exodus: Someone Holds $12.8 Billion AI Order

Mining Farms are Turning to AI Hashpower with no Turning Back.

March 6 Market Key Intelligence, How Much Did You Miss?

March 6 Market Key Intelligence, How Much Did You Miss?

1. On-chain Funds: $16.3M USD has flowed into the OP Mainnet today; $13.7M USD has flowed out of Arbitrum 2. Largest Price Swings: $XPT, $AIX 3. Top News: Vitalik Calls on Ethereum Community to Shift Mindset, Uphold Core Principles, and Rethink Application Design "From Scratch"

a16z: The True Opportunity of Stablecoins is in Complementing, Not Disrupting

a16z: The True Opportunity of Stablecoins is in Complementing, Not Disrupting

The stablecoin opportunity lies with those merchants yet to come onboard.

Predict LALIGA Matches, Shoot Daily & Win BTC, USDT and WXT on WEEX

Predict LALIGA Matches, Shoot Daily & Win BTC, USDT and WXT on WEEX

The WEEX × LALIGA campaign brought together football excitement and crypto participation through a dynamic interactive experience. During the event, users predicted matches, completed trading tasks, and took daily shots to compete for rewards including BTC, USDT, WXT, and exclusive prizes.

Ray Dalio Dialogue: Why I'm Betting on Gold and Not Bitcoin

Ray Dalio Dialogue: Why I'm Betting on Gold and Not Bitcoin

Gold is the only asset with a long-term history that can be transferred, is not easily replicable, and does not rely on anyone else's promise. Most currencies, debts, stocks, etc., are just promises of someone honoring their purchasing power.

Who Took the Money in the AI Era? A Must-See Investment Checklist for HALO Asset Trading

Who Took the Money in the AI Era? A Must-See Investment Checklist for HALO Asset Trading

A one-page paper listed a series of questions about the potential impact of AI progress. Looking back over two years later, these questions appear particularly prescient, although none of them provided a definitive answer at the time.

Wall Street Bears Target Ethereum: Vitalik In the Know Takes Flight, Tom Lee Remains Bullish

Wall Street Bears Target Ethereum: Vitalik In the Know Takes Flight, Tom Lee Remains Bullish

「The Ethereum Tokenomics Has Collapsed, Wake Up and Realize It」

Pump.fun Hacker Steals $2 Million, Receives 6-Year Prison Sentence, Opts for 'Self-Detonation'

Pump.fun Hacker Steals $2 Million, Receives 6-Year Prison Sentence, Opts for 'Self-Detonation'

Life of Talent, Paranoia, and Setbacks

6% Annual Percentage Yield as Musk Declares War on Traditional Banks

6% Annual Percentage Yield as Musk Declares War on Traditional Banks

A black metal card, 600x rate delta.

36 years, 4 wars, 1 script: How does capital price the world in conflict?

36 years, 4 wars, 1 script: How does capital price the world in conflict?

When the cannon fires, 10,000 ounces of gold. In a turbulent era, the wealth choice of the common people.

Mining Companies' Great Migration: Some Have Already Secured $12.8 Billion in AI Orders

Mining Companies' Great Migration: Some Have Already Secured $12.8 Billion in AI Orders

Mining companies turn to AI computing power, with no turning back.

What Is Vibe Coding? How AI Is Changing Web3 & Crypto Development

What Is Vibe Coding? How AI Is Changing Web3 & Crypto Development

What is vibe coding? Learn how AI coding tools are lowering the barrier to Web3 development and enabling anyone to build crypto applications.

Pantera Capital: How has Crypto as a Service affected us?

If you are planning to start a business in 2026, my advice is simple: Instead of just talking about technology, focus more on how you can solve real-world problems.

Pantera Capital: What changes have we made when crypto is treated as a service?

If you are planning to start a business in 2026, my advice is simple: stop talking excessively about technology and focus more on the actual problems you can solve.

Wall Street Shorts ETH: Vitalik is aware and has front-run, while Tom Lee remains oblivious

"The Ethereum token economic model has collapsed, wake up and see this clearly."

Social Capital CEO: How Equity Tokenization is Reshaping Capital Markets from US Stocks to SpaceX?

Equity tokens represent the next challenge: can tokenization expand from payments to ownership of financial assets?

CoinGecko Report: Surge of 346% vs Dip of 20.8%, The Wild Rise of DEX

A large-scale capital migration driven by platforms such as Hyperliquid towards decentralized infrastructure from centralization.

a16z: The Real Opportunity of Stablecoins Lies Not in Disruption but in Filling Gaps

The opportunity for stablecoins lies with those merchants that have yet to emerge.

Popular coins

Latest Crypto News

15:43

Data: 348.57 BTC was transferred from an anonymous address and then sent to another anonymous address after a relay

According to Arkham data, at 14:33, 348.57 BTC (worth approximately 23.37 million USD) was transferred from an anonymous address (starting with 3Aso7sdh...) to another anonymous address (starting with 3GYG4PeT...). Subsequently, that address transferred 348.57 BTC to another anonymous address (start...

15:43

The CRCL stock price once broke through 105 USD and then fell back to around 102 USD, having doubled from the year's low

Google Finance website data shows that Circle (CRCL) closed at a price that once rose to $105.74; it has now fallen back to $101.91. The increase over the past month is 69.57%. It is worth mentioning that on February 5, Circle (CRCL) stock price dropped to a year-to-date low of $50.23, and the curre...

15:43

Iran claims to have launched drone and missile strikes on a U.S. military helicopter base, with no response from the U.S. side yet

According to Jinshi citing CCTV news reports, the Iranian Islamic Revolutionary Guard Corps issued a statement saying that the Revolutionary Guard Navy carried out a joint operation using drones and ballistic missiles to strike a U.S. military helicopter base early that morning. The statement claime...

15:43

Data: The current position of whales on the Hyperliquid platform is 3.14 billion USD, with a long-short position ratio of 1.02

According to Coinglass data, the current whale holdings on the Hyperliquid platform amount to $3.14 billion, with long positions of $1.582 billion, accounting for 50.4% of the holdings, and short positions of $1.557 billion, accounting for 49.6%. The profit and loss for long positions is -$134 milli...

14:43

The on-chain collateralized decentralized protocol OmniPact has completed a $50 million private placement financing

Decentralized protocol OmniPact, built for a trust layer in peer-to-peer trading of physical and digital assets, announced the completion of a $50 million private placement financing, backed by a consortium of institutional investors and family offices that require anonymity. The protocol utilizes s...