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Opened Apr 30, 2026 by Shella Devereaux@shelladevereau
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Kalshi Granted Temporary Injunction in Brand-new Jersey Sports Trading Case


Prediction market operators received more great news this week as Kalshi won a preliminary restraining order and a short-lived injunction versus the New Jersey Division of Gaming Enforcement (NJDGE). Last month, the NJDGE released cease-and-desist orders to Kalshi and Robinhood, another forecast market company.

Key Insights:

- New Jersey is one of numerous states that provided cease-and-desist orders to Kalshi and/or other forecast market service providers over their recently offered sports event futures agreements.

  • This is the 2nd federal court, after the U.S. District Court for the District of Nevada, that has agreed Kalshi.
  • Should maintain their asserted right to offer sporting occasion agreements, without state guideline or taxation, it might negatively impact state sports wagering incomes.

    After getting a cease-and-desist order from the NJDGE, Kalshi submitted a movement for a preliminary restraining order and a short-lived injunction with the U.S District Court for the District of New Jersey. In response, the NJDGE submitted an opposition to Kalshi's movement.

    The NJDGE argues that Kalshi made its sporting occasion agreements available to New Jersey locals in offense of New Jersey sports wagering laws and policies. Kalshi is unlicensed by the state. As a forecast market operator, however, it is federally managed by the Commodity Futures Trading Commission (CFTC).

    Kalshi argues that the state has no jurisdiction over its sporting event agreements as forecast markets are controlled by the federal government. The NJDGE countered that sporting event contracts should not fall under the CFTC's jurisdiction as they are not financial in nature. The vast bulk of regulated futures agreements are based on the future prices of commodities or other financial securities.

    On both points, the judge sided with Kalshi.

    "I am convinced that Kalshi's sports-related event agreements fall within the CFTC's exclusive jurisdiction and am skeptical by the offender's arguments to the contrary," Judge Edward Kiel wrote. "Defendants argue that sporting events lack prospective monetary, economic, or industrial effect. On the record before me, I disagree."

    The next states in Kalshi's sights

    Like Nevada and New Jersey, Maryland provided Kalshi a cease-and-desist order. And like Nevada and New Jersey, Kalshi filed a movement for a preliminary restraining order and a short-term injunction with Maryland's U.S. District Court.

    Meanwhile, Ohio expects that it may be the next recipient of a Kalshi suit. Ohio provided a cease-and-desist order to Kalshi and 2 other forecast market companies late last month.

    While Kalshi seems to have the upper hand in these initial legal battles, the war over sports trading policy will likely continue. For one thing, there's a lot of ambiguity in federal law and policy to keep attorneys and judges hectic.

    The Federal Wire Act prohibits interstate sports wagering, which is one reason sports betting is legislated and managed intrastate. Meanwhile, CFTC Rule 40.11(a)( 1) forbids any occasion agreement "that includes, connects to, or referrals terrorism, assassination, war, gaming, or an activity that is illegal under any State or Federal law ..."

    Also, there is just too much at stake for the states to just fold. For example, New Jersey created $138.3 million in online sports betting tax profits in 2015. Should forecast markets prevail, states stand to lose among their latest and reputable profits streams. Meanwhile, companies like DraftKings and FanDuel, which have actually made large financial investments to protect state licenses and state regulatory approvals, have a lot to lose. Afterall, it will be tough to contend with a prediction market operator that isn't needed to pay up to 50% in state taxes.
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Reference: shelladevereau/the-bet9ja-promotion-code-2026-is-yohaig#1