Judge rejects Kalshi emergency appeal bid over New York contracts fight

U.S. District Judge Analisa Torres has rejected Kalshi's latest emergency appeal to stop New York regulators from enforcing gaming laws while the company appeals an earlier setback. The order, issued on Monday (July 27), denied Kalshi's request for an injunction pending appeal and any administrative relief. Judge Torres said Kalshi failed to meet the higher legal standard required for emergency relief, as the party must demonstrate a "strong" chance of success on the merits, a standard more demanding than that for a preliminary injunction.

New York has filed an opposition to Kalshi's emergency motion in the Second Circuit, citing the denial of the same relief by the Sixth Circuit. The judge emphasized that Kalshi's circumstances did not warrant a district court granting relief after denying a preliminary injunction. Kalshi argued it faced a difficult decision between violating New York law or risking federal liability, but the court found Kalshi's injuries largely monetary and from routine regulatory burdens, insufficient for a preliminary injunction.