# Kalshi Inc. Type: Company Source: GetYourBrief — https://getyourbrief.com/entity/kalshi-inc Canonical HTML page: https://getyourbrief.com/entity/kalshi-inc ## Timeline - **2026-07-31**: New York AG files state lawsuit — Attorney General Letitia James files a lawsuit in Manhattan state court alleging Kalshi is running an illegal gambling operation, seeking injunction, penalties, and restitution. - **2026-07**: Federal judge denies preliminary injunction — A judge in the Southern District of New York denies Kalshi's request for a preliminary injunction against the Gaming Commission's actions. - **2026-07**: Injunction pending appeal denied — The same federal judge denies Kalshi's motion for an injunction pending the outcome of its appeal. - **2026-04-03**: TRO Expiration — The 14-day temporary restraining order is set to expire unless extended or converted to a preliminary injunction. - **2026-04-03**: TRO Expiration — The 14-day temporary restraining order is set to expire unless extended or converted to an injunction. - **2026-04-03**: Expected Hearing — The 14-day TRO window expires, likely leading to a hearing on a preliminary injunction. - **2026-03-27**: Mid-Point Review — Expected legal filings from Kalshi's counsel at Sidley Austin to challenge the order. - **2026-03-20**: TRO Issued — Judge Woodbury signs the order blocking Kalshi operations in Nevada after NGCB filing. - **2026-03-20**: Public Disclosure — The Nevada Gaming Control Board provides a copy of the order to the media; Kalshi declines to comment. - **2026-03-20**: TRO Issued — Judge Jason D. Woodbury signs the order blocking Kalshi in Nevada. - **2026-03-20**: TRO Issued — Judge Jason D. Woodbury signs a temporary restraining order against Kalshi in Carson City. - **2026-03-20**: Regulator Statement — Nevada Gaming Control Board confirms the order, citing lack of state gaming licensure. - **2025-10**: Kalshi sues New York after cease-and-desist — After the NY Gaming Commission sends a cease-and-desist letter, Kalshi files a federal lawsuit challenging the state's authority over its prediction market. ## Recent coverage (8 stories, network-wide) ### Kalshi, a CFTC-Licensed Startup, Hit with NY Suit Seeking $100K Penalties 2026-07-31 12:58:28 · Sector: startups · Sentiment: Negative · Impact: 7/10 · Sources: 3 Prediction market startup Kalshi is facing a New York state lawsuit over unlicensed gambling, with penalties up to $100,000 per sports wager. The legal action highlights the growing regulatory risks for VC-backed fintechs operating at the intersection of federal and state law. Full story: https://getstartupbrief.com/story/startups-kalshi-ny-lawsuit-regulatory-risk ### NY AG Sues Kalshi: $100K Per Sports Bet Penalty in Test of Federal Preemption 2026-07-31 12:58:16 · Sector: legal · Sentiment: Negative · Impact: 7/10 · Sources: 3 New York Attorney General Letitia James has sued prediction market Kalshi for running an unlicensed gambling operation, seeking $100,000 in penalties per sports wagering attempt. The case pits state gambling laws against federal CFTC regulation, with recent federal court denials bolstering New York's offensive. Full story: https://getlegalbrief.com/story/legal-kalshi-ny-gambling-suit-preemption ### Kalshi Faces $100K Penalties & Treble Damages in NY Gambling Suit 2026-07-31 12:58:04 · Sector: finance · Sentiment: Negative · Impact: 7/10 · Sources: 3 New York's lawsuit against Kalshi seeks $100,000 per sports wagering attempt, plus treble damages and full restitution, posing significant financial risk to the CFTC-licensed exchange. The legal challenge introduces valuation uncertainty for investors amid a wider state-versus-federal regulatory clash. Full story: https://getfinancebrief.com/story/finance-kalshi-ny-lawsuit-prediction-market-risk ### Kalshi Hits $1B Daily Volume Streak Amid World Cup Prediction Boom 2026-06-21 13:10:25 · Sector: finance · Sentiment: Neutral · Impact: 5/10 · Sources: 2 US-regulated prediction exchange Kalshi saw its first three-day streak of daily volumes above $1B, while DraftKings’ event contracts hit a record weekend, signaling the financialization of sports betting through prediction markets. Full story: https://getfinancebrief.com/story/world-cup-prediction-market-boom-kalshi-draftkings ### Polymarket's $5B World Cup Spree Fuels $9M Loss on a Single Bet 2026-06-21 13:10:17 · Sector: crypto · Sentiment: Neutral · Impact: 5/10 · Sources: 2 Decentralized prediction market Polymarket has seen over $5B in World Cup trading volume, but a single $9M loss highlights the high-risk, high-reward nature of crypto-based betting platforms. The tournament is accelerating DeFi’s push into mainstream sports. Full story: https://getcryptobrief.com/story/polymarket-5b-world-cup-prediction-market-loss ### Nevada Judge Issues Temporary Restraining Order Against Kalshi Over Licensing 2026-03-20 22:01:08 · Sector: startups · Sentiment: Neutral · Impact: 5/10 · Sources: 2 A Nevada state judge has temporarily barred prediction market Kalshi from operating within the state following a complaint by the Nevada Gaming Control Board. The regulator argues that Kalshi's event contracts for sports, elections, and entertainment constitute unlicensed gaming, setting up a jurisdictional clash between state gaming laws and federal commodities regulation. Full story: https://getstartupbrief.com/story/kalshi-nevada-temporary-ban-regulation ### Nevada Judge Halts Kalshi Operations Over Gaming License Dispute 2026-03-20 22:01:03 · Sector: finance · Sentiment: Neutral · Impact: 5/10 · Sources: 2 A Nevada state judge has issued a temporary restraining order against Kalshi, siding with state regulators who argue the prediction market operates as unlicensed gambling. The move sets up a high-stakes legal battle over whether federal CFTC oversight preempts state-level gaming regulations. Full story: https://getfinancebrief.com/story/nevada-judge-halts-kalshi-operations ### Nevada Judge Issues Temporary Ban on Kalshi Over Gaming License Dispute 2026-03-20 22:00:30 · Sector: legal · Sentiment: Neutral · Impact: 5/10 · Sources: 2 A Nevada state judge has issued a temporary restraining order against Kalshi Inc., halting its prediction market operations in the state for up to two weeks. The move follows a challenge by the Nevada Gaming Control Board, which argues that Kalshi's contracts constitute unlicensed gambling rather than federally regulated commodities trading. Full story: https://getlegalbrief.com/story/nevada-judge-halts-kalshi-operations-gaming-dispute --- This page is a machine-readable summary. Sentiment measures the directional read of each development for this entity, not the tone of the reporting; impact weights consequence, not syndication reach. See https://getyourbrief.com/guides/methodology for the full editorial methodology.