Court temporarily stops Tennessee from taking action against Kalshi
Kalshi is free to continue operating in Tennessee for now, as a federal judge blocked state regulators from taking action after the prediction market sued.
A Tennessee federal judge has temporarily stopped state regulators from taking action against the prediction markets platform Kalshi, which had sued the state after being ordered to cease offering sports event contracts.
In an order on Monday, Judge Aleta Trauger supported Kalshi’s earlier motion for a preliminary injunction and temporary restraining order against the Tennessee Sports Wagering Council and the state’s attorney general while the court case moves ahead.
The judge said Kalshi “will suffer irreparable injury and loss” by the regulator’s actions, and the company “is likely to succeed on the merits of its claims and its rights will likely be violated” unless the regulator is restrained.
