Kalshi, Polymarket lose bids to halt Nevada and Washington gambling cases
The Block
Prediction market platforms Kalshi and Polymarket failed to move their Nevada and Washington gambling lawsuits to federal court.Summary
A Ninth Circuit panel has denied requests from prediction market platforms Kalshi and Polymarket to halt state-level gambling cases in Nevada and Washington. The court ruled that the companies failed to prove their cases belong in federal court, noting that federal preemption defenses do not automatically establish federal jurisdiction. These lawsuits center on whether the platforms operate as unlicensed gambling entities, a claim the companies have contested by asserting that the Commodities and Futures Trading Commission holds exclusive oversight authority.
(Source：The Block)