U.S. Court Rejects Kalshi's Emergency Relief: Regulatory Clash Over Prediction Markets Escalates as New York Gaming Law Holds Firm

The U.S. Second Circuit Court of Appeals has denied Kalshi's request for temporary relief, which sought to block enforcement of New York's gaming law. The court referred the full motion to a three-judge panel for further review. This decision escalates the legal clash between prediction markets and state gambling regulations, highlighting ongoing regulatory uncertainty for the industry.

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