Kalshi Fights New York Ban on Sports Contracts in Federal Lawsuit

Prediction market platform Kalshi has initiated a legal challenge against the New York State Gaming Commission’s ban on sports contracts. Filed on October 28, 2025, Kalshi’s lawsuit argues that as a Commodity Futures Trading Commission (CFTC) registered Designated Contract Market (DCM), it operates under federal regulatory oversight for derivatives traded on federally regulated exchanges, contradicting the state’s prohibition.