Louisiana judge halts Kalshi & Polymarket, for now
The lawsuit also targets companies linked to Robinhood, Coinbase, Crypto.com & five other platforms.
The hit
A Louisiana judge has temporarily barred Kalshi, Polymarket & a string of other prediction market operators from offering event contracts in the state, according to The Center Square. The order, signed hours after attorney general Liz Murrill sued the companies, covers sports, election & awards contracts & requires operators to block access for anyone physically in Louisiana.
Why it matters
The case turns on who regulates these markets: Louisiana says the contracts are unlicensed gambling, the operators say they are federally regulated derivatives under the Commodity Futures Trading Commission. Kalshi had already sued Louisiana officials in federal court to pre-empt state enforcement. The temporary order does not resolve that underlying dispute.
The record
| Temporary order signed | Thursday, by Judge Jeffrey Johnson, 21st Judicial District Court |
|---|---|
| Order duration | 10 days unless extended |
| Preliminary injunction hearing | 9am, 30 November |
| Maximum fine for illegal gambling-by-computer | raised from $20,000 to $100,000 under Act 182, effective 1 August |
| Lawsuit also targets companies associated with | Robinhood, Coinbase, Crypto.com, ForecastEx, Gemini, Novig, Underdog, ProphetX |
What happens next
Louisiana will seek a preliminary injunction at the hearing.
Sources: Louisiana judge temporarily blocks Kalshi, other prediction markets
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