New Jersey Federal Court Sides with Kalshi Over Prediction Market Contracts

Gaming attorney Johnny ElHachem authored a FinTech Law Report article analyzing the recent legal victory of prediction market platform Kalshi, which secured a preliminary injunction preventing the New Jersey Division of Gaming Enforcement from enforcing a cease-and-desist order against its operations in the state. Mr. ElHachem highlights how the case illustrates the ongoing complexity of simultaneously navigating state and federal regulations in the prediction market sector. The article also examines how this case could shape the strategies of other federally regulated platforms, such as those registered with the Commodity Futures Trading Commission (CFTC), facing comparable regulatory challenges.

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