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California Attorney General Rob Bonta joined two bipartisan coalitions of attorneys general in filing amicus briefs supporting New York and Wisconsin’s authority to enforce state sports gaming and gambling laws against prediction market operator Kalshi, according to goldrushcam.com’s Nov. 8 report.
The coalitions argue that federal law should not preempt state gambling laws as applied to prediction market providers. They contend that regulating gambling is a traditional state responsibility and helps protect vulnerable citizens.
“Prediction markets cannot use federal loopholes to bypass state consumer protection, sports gaming, and gambling laws,” Bonta said.
The filings mark California’s tenth and eleventh participation in multistate amicus efforts targeting Kalshi and similar prediction market companies.
New York appeal follows denial of Kalshi injunction
In KalshiEX, LLC v. Williams, et al., Kalshi sued the New York State Gaming Commission after the regulator issued a cease-and-desist order.
The district court denied Kalshi’s request for a preliminary injunction and held that New York’s gambling laws, as applied to Kalshi’s sports-event contracts, are not preempted by federal law. Kalshi appealed to the U.S. Court of Appeals for the Second Circuit.
Wisconsin enforcement dispute reaches Seventh Circuit
Wisconsin filed a state-court action against Coinbase, Kalshi, Robinhood, Polymarket and Crypto.com. After the prediction market providers moved the cases to federal court, the Commodity Futures Trading Commission filed a federal lawsuit against Wisconsin and sought a preliminary injunction blocking enforcement of the state’s gambling laws.
The district court denied the CFTC’s preliminary injunction motion. The CFTC appealed to the U.S. Court of Appeals for the Seventh Circuit.
More from playwv.com – West Virginia Election Betting Ban Faces Prediction-Market Questions – Nearly 150 Tribes Urge Supreme Court to Review Third Circuit’s Kalshi Ruling – 39 states and DC urge Supreme Court to hear Kalshi gambling preemption case
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Source: As reported by goldrushcam.com.
