Kalshi has released an official statement regarding the denial of a preliminary injunction against the predictions marketplace originally filed in September 2025 by Tribal entities in California.
"We welcome today's decision denying the plaintiff tribes' motion for a preliminary injunction," a Kalshi spokesperson said.
"Kalshi's nationwide, federally-regulated exchange offers all users a fair and transparent way to trade event contracts. Casinos located on Tribal lands offer their customers a fundamentally different product."
Tribal lawyers failed to prove the likelihood of success on provided arguments, and were therefore denied in its request for a preliminary injunction as part of the Blue Lake Rancheria v. Kalshi lawsuit.
On October 27, Kalshi filed a lawsuit in Manhattan US District Court against the New York State Gaming Commission (NYSGC), alleging the regulator overstepped its authority by threatening the predictions marketplace with criminal action for operating throughout the Empire State.
"Defendants have implicitly threatened Kalshi with criminal action and explicitly threatened Kalshi with civil penalties, including fines, unless it shuts down these contracts in New York immediately," Kalshi stated within the filing.
"One of Congress' avowed goals in creating the CFTC was to avoid the 'chaos' that would result from subjecting exchanges to a patchwork of 51 different - and potentially conflicting - state laws."
Kalshi stated any regulation conducted by the Commodity Futures Trading Commission (CFTC) "preempts" that of state authorities due to its contracts being structured as binary options, and believes potential threats may harm not only its own operations, but those of its business partners such as Robinhood Markets.
Kalshi announced its expansion to more than 140 countries on October 10 following a $300m funding round led by Sequoia Capital and a16z, which brought the prediction marketplace's valuation to approximately $5bn
