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Deep Tide TechFlow News, May 22 — According to Bloomberg, the U.S. Federal Court of Appeals ruled that enforcement lawsuits by Nevada and Washington State against prediction market platforms Kalshi and Polymarket can proceed in state courts, and dismissed the companies' requests to stay the cases during the appeal.
The court stated that Kalshi and Polymarket failed to prove that litigation in state courts would cause irreparable harm, nor did they demonstrate a higher likelihood of success regarding their federal jurisdiction claims. This ruling involves enforcement actions by Nevada against Kalshi and Polymarket, as well as a case by Washington State against Kalshi.