Woofun AI reports that Judge Analisa Torres denied prediction market platform Kalshi’s request for a preliminary injunction in the Southern District Court of New York. The ruling asserts that New York state gambling laws govern Kalshi’s sports betting contracts and have not been superseded by the Commodity Exchange Act.

Consequently, the legal proceedings will advance to the motion to dismiss phase. This decision marks a procedural shift in the dispute within the SDNY jurisdiction.