U.S. Judge Issues Preliminary Injunction to Temporarily Block Illinois from Classifying Kalshi Sports Contracts as Gambling
According to Ariel Givner, Judge Pacold of the U.S. District Court for the Northern District of Illinois issued a ruling supporting a partial preliminary injunction in a lawsuit involving Coinbase, Kalshi, and the U.S. federal government/U.S. Commodity Futures Trading Commission (CFTC) against Illinois Attorney General Kwame Raoul, thwarting Illinois' attempt to classify sports event contracts on the prediction market platform Kalshi under the state's gambling regulations in its initial legal push.
