The post Judge denies Kalshi bid to block New York gambling laws appeared on BitcoinEthereumNews.com.
A federal judge in Manhattan refused to shield Kalshi from New York’s gambling laws on Tuesday, deepening a split among US courts over who regulates prediction markets and pushing the fight closer to the Supreme Court. The decision matters because federal appeals courts now disagree on the central legal question, and that kind of divergence is what tends to draw the justices in. Kalshi has already asked the Second Circuit to review the ruling. It was expected that the dispute could ultimately reach the Supreme Court, and each conflicting ruling makes that outcome harder to avoid. What the judge decided US District Judge Analisa Torres, who also presided over the SEC’s case against Ripple, denied Kalshi’s request for a preliminary injunction against the New York State Gaming Commission. The order landed in KalshiEX LLC v. Williams, filed July 7 in the Southern District of New York. At i
Political campaigns are increasingly deploying AI and deepfakes to further their messaging, and the scale of spread has experts concerned
From the comfort of his bed, Jonathan Rinaldi, a political candidate for a city council seat in Queens, New York, tinkered away on his iPhone, prompting an artificial intelligence chatbot to mock up fake news hits and endorsements he had never received.
During the campaign last October, Rinaldi shared one of those stories, made to appear real with a CNN logo, on his Facebook and Instagram. It stated that Lynn Schulman, his opponent and an incumbent Democrat, had been “forced to drop out of the race due to a series of critical mistakes”. But Schulman had not quit her campaign, and in November, won by a landslide.
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The surge in prediction markets highlights the growing intersection of sports and digital finance, impacting crypto market dynamics and liquidity.
The post World Cup prediction markets surge as England advances to quarter-finals against Norway appeared first on Crypto Briefing.
Susquehanna's expansion into prediction markets could redefine financial hedging, blending retail and institutional trading dynamics.
The post Susquehanna deepens prediction market push as World Cup drives record volumes appeared first on Crypto Briefing.
Crypto's integration into esports via prediction markets could revolutionize fan engagement and investment, despite regulatory challenges.
The post Coinbase-sponsored Mid-Season Invitational turns esports into crypto’s newest prediction market playground appeared first on Crypto Briefing.
Polymarket's US return could redefine prediction markets, challenging competitors with low fees and setting new compliance standards in the industry.
The post Polymarket races to regain trust with US market re-entry after $112M acquisition appeared first on Crypto Briefing.
The post Kalshi Appeals Court Loss in Sports Prediction Market Fight appeared on BitcoinEthereumNews.com.
Kalshi is appealing a New York federal judge’s rejection of its bid to block state gambling officials from enforcing local laws against the prediction market platform’s sports-related event contracts. In a notice filed on Tuesday in the US District Court for the Southern District of New York (SDNY), Kalshi said it would take the case to the US Court of Appeals for the Second Circuit. The appeal followed a same-day opinion and order denying the platform operator’s motion for a preliminary injunction against officials at the New York State Gaming Commission. The appeal escalates a growing legal fight over whether sports prediction markets are federally regulated derivatives or state-regulated gambling products. This question has already split courts across the United States. Judge Analisa Torres earlier Tuesday rejected that argument at the preliminary injunction stage, finding tha
Kalshi appealed to the Second Circuit after a New York federal judge denied its request to block state gambling officials from enforcing local laws against its sports event contracts.
The post ‘Major loss’: New York Court rejects Kalshi’s injunction request appeared on BitcoinEthereumNews.com.
Prediction market platform Kalshi has suffered a legal loss in New York. According to a court filing on the 7th of July, the firm was denied a preliminary injunction by Judge Analisa Torres of the Southern District of New York. Judge Torres maintained that gambling falls under the purview of local state oversight. The scope of laws regulating gambling and lotteries is clearly a matter of predominantly state concern. Additionally, Judge Torres clarified that federal law, the Commodity Exchange Act, does not preempt state gambling laws. Courts apply a presumption against preemption with respect to areas where states have historically exercised their police powers. Source: Court Listener She explained that such a presumption arises only when Congress legislates in a field traditionally governed by the states. In other words, federal authority applies only where Congress has
