Federal Appeals Court Denies Emergency Motions for Kalshi and Polymarket
- The Ninth Circuit Court of Appeals ruled against Kalshi and Polymarket on Thursday.
- Emergency motions to halt gambling-related lawsuits in Nevada and Washington were denied.
- Both companies are facing ongoing legal challenges regarding their prediction market operations.
This ruling signifies a significant hurdle for Kalshi and Polymarket, as they continue to navigate legal scrutiny in multiple states over their business practices. The decisions reflect the courts’ stance on gambling regulations affecting prediction markets.
The Ninth Circuit’s refusal to grant relief means both companies must continue to defend against lawsuits in Nevada and Washington, impacting their operations significantly. (Source)
