Vardan KhachatryanPrediction market litigation
64 matters across 3 apps and 18 jurisdictions, 35 still open.
- Open matters
- 35
- Decided
- 29
- Appeals courts that have ruled
- 3: the Third for Kalshi; the Sixth and Ninth against
- Supreme Court
- New Jersey's petition, filed September 2, 2026
- Newest entry
- September 25, 2026
Each entry on this page links the ruling or report it rests on. Nothing here is legal advice.
Every matter, newest first
Each entry names the app, the court or regulator and the docket where one exists. The summaries are ours; the source link is the record.
Where a filing date is not public, the entry says so rather than guessing.
Sep 25, 2026
Kalshi · Ohio · ruling decidedThe Sixth Circuit ruled against Kalshi in its appeals from Ohio and Tennessee, holding that its sports event contracts are not swaps under the Commodity Exchange Act, so state gaming law applies to them. It is the second federal appeals court, after the Ninth, to rule against Kalshi on the question.
Sep 25, 2026
Kalshi · Tennessee · ruling decidedThe Sixth Circuit vacated Kalshi's preliminary injunction against Tennessee officials, holding its sports event contracts are not swaps and federal law does not preempt Tennessee's gambling law. The vacatur takes effect when the mandate issues.
KalshiEX LLC v. Orgel, No. 26-5235 (6th Cir.), with No. 26-3196 · Source · Tennessee page
Sep 24, 2026
Polymarket · New York · lawsuit openThe Attorney General and Governor sued Polymarket US in state court, calling it an unlicensed gambling operation. Polymarket US sued New York in federal court the same day to block enforcement.
Sep 21, 2026
Kalshi · Wisconsin · petition openA petition for permission to appeal in the Ho-Chunk case was filed in the Seventh Circuit after the district court certified the question.
No. 26-8020 (7th Cir.) · Source · Wisconsin page
Sep 16, 2026
Kalshi · Federal · ruling decidedThe Ninth Circuit reversed a district court's denial of a preliminary injunction sought by two California tribes, Blue Lake Rancheria and Chicken Ranch Rancheria of Me-Wuk Indians, holding they are likely to succeed on their claim that Kalshi's sports contracts offered on their lands violate the Indian Gaming Regulatory Act. The case returns to the district court.
Blue Lake Rancheria v. Kalshi, Inc., No. 25-7504 (9th Cir.) · Source
Sep 15, 2026
Sep 10, 2026
Polymarket · Connecticut · cease and desist openConnecticut ordered Polymarket, among nine platforms it said were operating in the state, to stop offering sports event contracts.
Sep 10, 2026
Robinhood · Nevada · petition openRobinhood asked the Supreme Court to review the Ninth Circuit's Nevada ruling. The petition is No. 26-338.
Robinhood Derivatives, LLC v. Dreitzer, No. 26-338 (U.S.) · Source · Nevada page
Sep 8, 2026
Sep 8, 2026
Kalshi · Iowa · ruling decidedIn the suit Kalshi brought pre-emptively against Iowa officials, Judge Stephen Locher denied a preliminary injunction, finding Kalshi unlikely to succeed on its argument that federal law preempts Iowa's gambling laws. Kalshi has appealed to the Eighth Circuit.
Sep 4, 2026
Robinhood · Michigan · ruling decidedUnder a court-approved stipulation, Robinhood agreed to stop new sports event contracts in Michigan after September 9 and close open ones by October 9, 2026, while Michigan holds off enforcement.
Robinhood Derivatives, LLC v. Nessel, No. 1:26-cv-00730 (W.D. Mich.) · Source · Michigan page
Sep 2, 2026
Kalshi · Michigan · ruling decidedMichigan judge granted a preliminary injunction requiring Kalshi to geofence Michigan residents from sports event contracts, on the state's argument that they violate the Lawful Sports Betting Act.
Nessel v. KalshiEX, LLC, No. 26-001087-CZ (Mich. 30th Cir. Ct.) · Source · Michigan page
Sep 2, 2026
Kalshi · New Jersey · petition openNew Jersey asked the Supreme Court to review the Third Circuit's ruling for Kalshi, the first state to take the prediction market question to the Court. The petition followed the Ninth Circuit's contrary ruling in August.
Flaherty v. KalshiEX LLC, No. 26-299 (U.S.) · Source · New Jersey page
Aug 28, 2026
Kalshi · Nevada · ruling decidedNinth Circuit ruled 3-0 against Kalshi, affirming dissolution of its preliminary injunction against the Nevada Gaming Control Board. The panel accepted that the CEA preempts state regulation of genuine swaps on a DCM, but held Kalshi's sports event contracts do not meet the statutory definition of a swap, so preemption does not reach them and Nevada may enforce its gambling law. This is the direct opposite of the Third Circuit's holding four months earlier, and the split is widely expected to reach the Supreme Court.
No. 25-7516 · Source · Nevada page
Aug 28, 2026
Robinhood · Nevada · ruling decidedThe Ninth Circuit affirmed the denial of Robinhood's request to block Nevada's gaming laws.
Robinhood Derivatives, LLC v. Dreitzer, No. 25-7831 (9th Cir.) · Source · Nevada page
Aug 26, 2026
Kalshi · Connecticut · lawsuit openThe state sued Kalshi to stop unlicensed sports wagering; Kalshi removed the case to federal court the same day.
State of Connecticut v. KalshiEX LLC, No. 3:26-cv-01382 (D. Conn.) · Source · Connecticut page
Aug 14, 2026
Kalshi · Nevada · enforcement openThe Gaming Control Board said Kalshi had missed its geofence deadline and asked for $120,000 a day.
Nevada ex rel. Nev. Gaming Control Bd. v. KalshiEX LLC, No. 26-OC-00050 (Nev. 1st Jud. Dist. Ct.) · Source · Nevada page
Aug 13, 2026
Kalshi · Washington · ruling decidedA King County Superior Court order, announced by the Attorney General, requires Kalshi to stop offering sports, election, politics, entertainment, culture, tech and science, and mention contracts to people in Washington, with geofencing in place by September 2. The state's suit had been remanded to state court from federal court in May.
Aug 13, 2026
Kalshi · Maryland · lawsuit openThe City of Baltimore sued Kalshi, with Robinhood, Webull and Coinbase, in state court under consumer protection law over unlicensed sports wagering. The case was removed to federal court.
City of Baltimore v. KalshiEX LLC, No. C-24-CV-26-005532 (Cir. Ct. Balt. City), removed as No. 1:26-cv-03217 (D. Md.) · Source · Maryland page
Aug 13, 2026
Polymarket · Maryland · lawsuit openThe City of Baltimore sued Polymarket US's exchange, QCX LLC, in state court under consumer protection law over unlicensed sports wagering and its legality claims. The case was removed to federal court.
City of Baltimore v. QCX LLC, No. C-24-CV-26-005535 (Cir. Ct. Balt. City), removed as No. 1:26-cv-03253 (D. Md.) · Source · Maryland page
Aug 10, 2026
Kalshi · Connecticut · ruling decidedJudge Vernon D. Oliver denied Kalshi a preliminary injunction against Connecticut's enforcement of its gambling laws, and on August 15 denied an injunction pending appeal. Kalshi has appealed. The CFTC's separate suit against the state (3:26-cv-00498) is pending.
KalshiEX LLC v. Cafferelli, 3:25-cv-02016 (D. Conn.) · Source · Connecticut page
Aug 4, 2026
Kalshi · Utah · ruling decidedJudge Robert J. Shelby granted Utah summary judgment in the suit Kalshi brought pre-emptively, holding that the Commodity Exchange Act does not preempt Utah's enforcement of its anti-gambling laws against Kalshi's sports contracts, and closed the case. Kalshi has appealed.
Jul 31, 2026
Kalshi · New York · lawsuit openThe Attorney General and Governor sued Kalshi in state court, alleging its prediction market is an illegal, unlicensed gambling operation, and asked for an order halting its event contracts in New York, forfeiture of gains, restitution and penalties.
Jul 28, 2026
Kalshi · Wisconsin · ruling decidedThe Eastern District of Wisconsin denied the CFTC's request to enjoin Wisconsin; appeals are pending in the Seventh Circuit.
United States v. Wisconsin, No. 2:26-cv-00749 (E.D. Wis.); appeals Nos. 26-2636, 26-2675 (7th Cir.) · Source · Wisconsin page
Jul 27, 2026
Kalshi · Minnesota · ruling decidedA federal judge preliminarily enjoined Minnesota's law banning prediction markets, which makes hosting or advertising them a felony, days before it was due to take effect on August 1. Kalshi, Polymarket US and the CFTC brought the challenge; the court found them likely to succeed on the argument that federal law preempts the ban.
KalshiEX LLC v. Ellison, No. 0:26-cv-02778 (D. Minn.) · Source · Minnesota page
Jul 27, 2026
Polymarket · Minnesota · ruling decidedIn Polymarket US's challenge, a federal judge enjoined Minnesota's prediction market ban against CFTC-registered exchanges until a final ruling, before it took effect.
QCX LLC v. Ellison, No. 0:26-cv-02841 (D. Minn.) · Source · Minnesota page
Jul 20, 2026
Kalshi · Washington · ruling decidedJudge McHale found Kalshi likely violated the Gambling Act and granted Washington a preliminary injunction.
State of Washington v. KalshiEX LLC (King County Super. Ct.) · Source · Washington page
Jul 7, 2026
Kalshi · New York · ruling decidedKalshi sued New York Gaming Commission officials after the Commission ordered it on October 24, 2025 to stop offering unlicensed sports wagering. Judge Analisa Torres denied Kalshi a preliminary injunction, finding New York's gambling laws as applied to its sports contracts are not preempted by the Commodity Exchange Act, and denied an injunction pending appeal on July 27. Kalshi's appeal is before the Second Circuit.
KalshiEX LLC v. Williams, 1:25-cv-08846 (S.D.N.Y.) · Source · New York page
Jun 23, 2026
Kalshi · Illinois · lawsuit openKalshi sued Illinois officials to block enforcement of state gambling law and the new exchange-wager licensing law. On June 29 the state agreed not to enforce while Kalshi's injunction motion is pending.
KalshiEX LLC v. Raoul, No. 1:26-cv-07363 (N.D. Ill.) · Source · Illinois page
Jun 17, 2026
Polymarket · Michigan · ruling decidedIn the suit Polymarket US (QCX) brought pre-emptively against Michigan officials, Judge Paul L. Maloney denied a preliminary injunction, having denied a temporary restraining order on March 10. Polymarket has appealed to the Sixth Circuit.
QCX, LLC v. Nessel, 1:26-cv-00710 (W.D. Mich.) · Source · Michigan page
Jun 17, 2026
Robinhood · Michigan · ruling decidedThe court denied Robinhood a preliminary injunction against Michigan officials; Robinhood appealed to the Sixth Circuit.
Robinhood Derivatives, LLC v. Nessel, No. 1:26-cv-00730 (W.D. Mich.); appeal No. 26-1542 (6th Cir.) · Source · Michigan page
May 29, 2026
Polymarket · Nevada · ruling decidedJudge Jason Woodbury granted the board a preliminary injunction against QCX LLC, which does business as Polymarket US.
Nevada ex rel. Nev. Gaming Control Bd. v. Blockratize, No. 26-OC-00012-1B (Nev. 1st Jud. Dist. Ct.) · Source · Nevada page
May 28, 2026
Kalshi · Rhode Island · petition decidedThe CFTC moved to intervene on the apps' side in the Rhode Island cases; the court granted the motion on June 26.
KalshiEX LLC v. Furcolo, No. 1:26-cv-00327 (D.R.I.) · Source · Rhode Island page
May 21, 2026
Kalshi · Rhode Island · lawsuit openKalshi sued Rhode Island officials in federal court to block enforcement of state gambling law. Hours later the Attorney General sued Polymarket US and Kalshi in state court; the cases were consolidated in federal court.
KalshiEX LLC v. Furcolo, No. 1:26-cv-00327 (D.R.I.), with No. 1:26-cv-00333 · Source · Rhode Island page
May 21, 2026
Polymarket · Rhode Island · lawsuit openThe Attorney General sued Polymarket US and Kalshi in state court, calling them illegal gaming operations. Polymarket US removed the case to federal court the next day.
State of Rhode Island v. KalshiEX LLC and QCX LLC, No. PC-2026-02753 (R.I. Super. Ct.), removed as No. 1:26-cv-00333 (D.R.I.) · Source · Rhode Island page
May 21, 2026
Robinhood · Washington · ruling decidedA federal judge approved Washington's agreement not to enforce against Robinhood while the Nevada appeals run.
Robinhood Derivatives LLC v. Griffin, No. 3:26-cv-05311 (W.D. Wash.) · Source · Washington page
May 11, 2026
Kalshi · Wisconsin · ruling decidedThe court found the Ho-Chunk Nation likely to succeed on its IGRA claim but denied a preliminary injunction.
Ho-Chunk Nation v. Kalshi Inc., No. 3:25-cv-00698 (W.D. Wis.) · Source · Wisconsin page
Apr 28, 2026
Kalshi · Wisconsin · lawsuit openThe CFTC sued Wisconsin in federal court, arguing federal law bars the state from enforcing its gambling law against exchange-listed event contracts.
United States v. Wisconsin, No. 2:26-cv-00749 (E.D. Wis.) · Source · Wisconsin page
Apr 23, 2026
Kalshi · Wisconsin · lawsuit openWisconsin sued Kalshi, Robinhood and Coinbase in state court, calling sports contracts illegal commercial gambling. The case was removed to federal court.
State of Wisconsin v. Kalshi, Inc., No. 3:26-cv-00378 (W.D. Wis.) · Source · Wisconsin page
Apr 23, 2026
Polymarket · Wisconsin · lawsuit openWisconsin sued Polymarket US's exchange, QCX LLC, the same day, over its sports contracts.
State of Wisconsin v. QCX, LLC, No. 3:26-cv-00375 (W.D. Wis.) · Source · Wisconsin page
Apr 14, 2026
Apr 6, 2026
Kalshi · New Jersey · ruling decidedThird Circuit affirmed a preliminary injunction against New Jersey, holding Kalshi's sports event contracts are 'swaps' under the Commodity Exchange Act and that the CEA impliedly preempts state regulation of designated contract markets through both field and conflict preemption. New Jersey cannot enforce its gambling laws against Kalshi. One judge dissented, arguing the presumption against preemption applies to gambling as a traditionally state-regulated domain.
No. 25-1922 · Source · New Jersey page
Apr 3, 2026
Kalshi · Nevada · ruling decidedJudge Jason Woodbury granted the board a preliminary injunction against Kalshi's sports, election and entertainment contracts.
Nevada ex rel. Nev. Gaming Control Bd. v. KalshiEX LLC, No. 26-OC-00050 (Nev. 1st Jud. Dist. Ct.) · Source · Nevada page
Mar 30, 2026
Robinhood · Washington · lawsuit stayedRobinhood sued Washington's attorney general and gambling commissioners to block enforcement against its event contracts.
Robinhood Derivatives LLC v. Griffin, No. 3:26-cv-05311 (W.D. Wash.) · Source · Washington page
Mar 27, 2026
Kalshi · Washington · lawsuit openAttorney General Nick Brown sued Kalshi for illegal gambling and consumer protection violations.
State of Washington v. KalshiEX LLC (King County Super. Ct.) · Source · Washington page
Mar 16, 2026
Kalshi · Arizona · lawsuit openArizona filed a 20-count criminal information against Kalshi for operating an unlicensed gambling business and for election wagering, including contracts on Arizona's 2026 races for governor and secretary of state and the 2028 presidential race. The CFTC's suit against Arizona (2:26-cv-02246) was consolidated into Kalshi's own suit, and on the CFTC's motion a federal judge issued a temporary restraining order on April 10, 2026 and a preliminary injunction on May 5, 2026 restraining the state from enforcing its gambling laws against Kalshi. The injunction is on appeal to the Ninth Circuit.
KalshiEX LLC v. Johnson, 2:26-cv-01715-PHX-MTL (D. Ariz.), consolidated with United States v. Arizona, 2:26-cv-02246; appeal No. 26-4281 (9th Cir.) · Source · Arizona page
Mar 11, 2026
Mar 9, 2026
Kalshi · Ohio · ruling decidedIn Kalshi's federal suit against Ohio regulators, the court denied a preliminary injunction, finding sports event contracts are not swaps within the CFTC's exclusive jurisdiction and, alternatively, that the Commodity Exchange Act does not preempt Ohio's gambling laws. It denied an injunction pending appeal on March 20, 2026. The Sixth Circuit affirmed on September 25, 2026.
Mar 4, 2026
Robinhood · Michigan · lawsuit openRobinhood sued Michigan officials pre-emptively to block enforcement of state gambling law against its sports event contracts.
Robinhood Derivatives, LLC v. Nessel, No. 1:26-cv-00730 (W.D. Mich.) · Source · Michigan page
Feb 23, 2026
Feb 19, 2026
Kalshi · Tennessee · ruling decidedA federal judge granted Kalshi a preliminary injunction against Tennessee officials after the Sports Wagering Council ordered it to halt sports contracts, finding the contracts are swaps and that federal law preempts the state's gambling laws. The Sixth Circuit vacated the injunction on September 25, 2026.
KalshiEX LLC v. Orgel, 3:26-cv-00034 (M.D. Tenn.); appeal No. 26-5235 (6th Cir.) · Source · Tennessee page
Feb 17, 2026
Kalshi · Nevada · lawsuit openThe Gaming Control Board sued Kalshi in state court in Carson City for unlicensed wagering.
Nevada ex rel. Nev. Gaming Control Bd. v. KalshiEX LLC, No. 26-OC-00050 (Nev. 1st Jud. Dist. Ct.) · Source · Nevada page
Feb 9, 2026
Polymarket · Massachusetts · lawsuit stayedPolymarket US sued the Attorney General and the Gaming Commission to stop them applying state gaming law to its sports contracts. The case is administratively closed until the Supreme Judicial Court rules on Kalshi's injunction, and the state agreed not to enforce meanwhile.
QCX LLC v. Campbell, No. 1:26-cv-10651-WGY (D. Mass.) · Source · Massachusetts page
Jan 20, 2026
Kalshi · Massachusetts · ruling openA Massachusetts Superior Court judge granted the state a preliminary injunction barring Kalshi from offering sports event contracts without a state license. The order is stayed while Kalshi's appeal is before the Supreme Judicial Court, which heard argument on May 4, 2026 and has not yet ruled.
2584CV02525 (Suffolk Superior Court); appeal SJC-13906 · Source · Massachusetts page
Jan 16, 2026
Polymarket · Nevada · lawsuit openThe Gaming Control Board sued Polymarket, Polymarket US and a third affiliate in state court.
Nevada ex rel. Nev. Gaming Control Bd. v. Blockratize, No. 26-OC-00012-1B (Nev. 1st Jud. Dist. Ct.) · Source · Nevada page
Jan 9, 2026
Polymarket · Tennessee · cease and desist openThe Sports Wagering Council ordered Polymarket, with Kalshi and Crypto.com's exchange, to stop sports event contracts for Tennessee customers, void open contracts and refund deposits by January 31.
Dec 2, 2025
Kalshi · Connecticut · cease and desist openConnecticut's Department of Consumer Protection ordered Kalshi to stop offering sports event contracts in the state.
Connecticut DCP Case No. 2025-77 · Source · Connecticut page
Dec 2, 2025
Robinhood · Connecticut · cease and desist openConnecticut's Department of Consumer Protection ordered Robinhood Derivatives to stop offering sports event contracts in the state.
Connecticut DCP Case No. 2025-336 · Source · Connecticut page
Nov 24, 2025
Polymarket · Federal · approval decidedThe CFTC issued an Amended Order of Designation to QCX LLC, d/b/a Polymarket US, allowing futures commission merchants to intermediate trades and carry customer accounts on the exchange. QCX had been designated a contract market on July 9, 2025.
Sep 15, 2025
Robinhood · Massachusetts · lawsuit openRobinhood sued Massachusetts officials in federal court to block the state from applying its gaming laws to its sports event contracts, arguing they are preempted by the Commodity Exchange Act. The court dismissed the case twice as premature, most recently on March 13, 2026, and Robinhood's appeal to the First Circuit is pending.
1:25-cv-12578 (D. Mass.); appeal No. 26-1257 (1st Cir.) · Source · Massachusetts page
Aug 20, 2025
Kalshi · Wisconsin · lawsuit openThe Ho-Chunk Nation sued Kalshi under the Indian Gaming Regulatory Act over sports contracts traded on its lands.
Ho-Chunk Nation v. Kalshi Inc., No. 3:25-cv-00698 (W.D. Wis.) · Source · Wisconsin page
Aug 19, 2025
Robinhood · Nevada · lawsuit openRobinhood Derivatives sued Nevada's gaming regulators in federal court.
Robinhood Derivatives, LLC v. Dreitzer, No. 2:25-cv-01541 (D. Nev.) · Source · Nevada page
Apr 21, 2025
Kalshi · Maryland · lawsuit openMaryland argues sports contracts are unlicensed bets. Kalshi's request for an injunction was denied and is on appeal to the Fourth Circuit, a third circuit that may weigh in on the split.
1:25-cv-01283 (D. Md.); appeal No. 25-1892 (4th Cir.) · Source · Maryland page
Apr 1, 2025
Kalshi · Illinois · cease and desist openThe Illinois Gaming Board ordered Kalshi to stop offering sports contracts to Illinois residents.
The one question underneath all of it
Kalshi, Polymarket US and the exchanges behind other apps are designated contract markets. The CFTC regulates them under the Commodity Exchange Act.
The exchanges argue that law gives the CFTC exclusive power over what they list. So, they say, no state can ban or license their contracts.
States answer that a contract paying out on a football game is a sports wager. Gambling, they say, has always been theirs to regulate.
Tribes add a third claim. Under the Indian Gaming Regulatory Act, gaming on their land needs their consent.
Where the appeals courts stand
Three federal appeals courts have ruled, and they split two to one against the exchanges.
The Third Circuit sided with Kalshi on April 6, 2026, in New Jersey's case (No. 25-1922). It held sports contracts are swaps, so federal law displaces state gambling law.
The Ninth Circuit disagreed on August 28, in Nevada's case (No. 25-7516). It held those contracts are likely not swaps, so Nevada may enforce.
On September 16, the Ninth Circuit also sided with two California tribes (No. 25-7504). A trade placed on tribal land is gaming there, it held.
The Sixth Circuit joined the Ninth on September 25, in the Ohio and Tennessee cases (No. 26-3196).
Appeals are pending in other circuits, including the Second (New York), the Eighth (Iowa) and the Tenth (Utah).
What the CFTC is doing
The CFTC withdrew its 2024 plan to bar election and sports contracts on February 4, 2026.
On June 10, it proposed new rules instead. Most sports contracts would stay, but contracts on injuries, officiating calls and single in-game actions would go.
Comments closed on July 27. Just before, 44 states wrote that the CFTC has no authority over sports contracts at all.
What would settle it
The Supreme Court, most likely. New Jersey asked it to take the question on September 2, 2026, after the circuits split.
A ruling there would bind every state at once, in every circuit.
Congress could also amend the Commodity Exchange Act to say who regulates sports contracts. No such bill has passed.
A final CFTC rule would shape what exchanges may list. It would not, on its own, end the fight over state law.
Check a state
Every state with a matter on file has its own page. Each one shows every app's status there and a dated timeline.