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Tennessee judge approves preliminary injunction blocking state government enforcement action against Kalshi
Mars Finance News: On February 20, according to The Block, prediction market platform Kalshi obtained a preliminary injunction in Tennessee, USA, preventing state officials from enforcing sports-related event contracts under local gambling laws. In Thursday’s ruling, U.S. District Court Judge Aleta A. Trauger supported Kalshi on key issues, ruling that the company is likely to succeed in its claim that its sports event contracts qualify as “swaps” under the Commodity Exchange Act. The injunction applies to relevant state officials, prohibiting them from taking enforcement actions against Kalshi based on Tennessee sports betting laws during the litigation.