Judge Halts Arizona Regulation of Prediction Markets Citing Federal Preemption
A federal judge has temporarily halted Arizona’s enforcement of gambling laws against predictive market operators like Kalshi, suspending a criminal case against the company. The ruling stems from a lawsuit filed by the federal government, which argues that federal law governing “swaps” preempts state gambling regulations. This decision prevents Kalshi’s upcoming arraignment on charges of illegal wagering.
John Q. Hosedrinker