The threshold of "irreparable harm" has not been met, which means the platform must defend itself in multiple state courts simultaneously. The legal costs and time consumption are both significant negatives.

The Ninth Circuit Court of Appeals of the United States ruled that Kalshi and Polymarket cannot prevent enforcement lawsuits against prediction market platforms from proceeding in state courts in Nevada and Washington. The court found that the two companies failed to demonstrate that the state-level lawsuits would cause "irreparable harm," and their argument that federal law takes precedence over state gambling laws was also insufficient to establish federal court jurisdiction. (Bloomberg)