A federal judge has temporarily halted Arizona's enforcement of gambling laws against Kalshi, a predictive market operator. This ruling also suspends the state's criminal case against Kalshi, which was set for an arraignment hearing.
U.S. District Judge Michael Liburdi issued the ruling following a lawsuit from the Trump administration after Arizona prosecutors charged Kalshi with running an illegal gambling operation. The judge's decision prevents the arraignment hearing scheduled for Monday from proceeding. The federal Commodity Futures Trading Commission had intervened, arguing that Arizona's actions violate federal authority over national swaps markets.