U.S. Appeals Court Rejects Kalshi and Polymarket Request to Halt State Lawsuits

According to Bloomberg, a U.S. federal appeals court recently rejected Kalshi and Polymarket's request to suspend state-level enforcement lawsuits, allowing Nevada and Washington state cases to proceed.

The court ruled that the prediction market platforms failed to demonstrate irreparable harm from the state litigation or establish a strong likelihood of success on their federal jurisdiction claims. The ruling covers Nevada's enforcement action against both Kalshi and Polymarket, as well as Washington state's case against Kalshi.