A U.S. federal judge has temporarily blocked the state of Connecticut from enforcing a cease and desist order against prediction market platform Kalshi. The order, issued by the Connecticut Department of Consumer Protection (DCP) on December 2, accused Kalshi, along with Robinhood and Crypto.com, of conducting unlicensed online gambling activities. In response, Kalshi filed a lawsuit challenging the state's actions.
Judge Vernon Oliver ruled that the DCP must refrain from taking enforcement action against Kalshi while the court reviews the company's request to halt regulatory measures. The DCP is required to respond to Kalshi's motion by January 9, with Kalshi providing additional materials by January 30. Oral arguments are scheduled for mid-February.
U.S. Judge Halts Connecticut's Action Against Kalshi Amid Legal Dispute
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
