Judge Says Ho-Chunk Nation Likely to Block Kalshi Sports Contracts Under 1 Federal Law
Updated
Updated · Bloomberg · May 12
Judge Says Ho-Chunk Nation Likely to Block Kalshi Sports Contracts Under 1 Federal Law
1 articles · Updated · Bloomberg · May 12
A federal judge in Wisconsin said the Ho-Chunk Nation is likely to win its bid to stop Kalshi from offering sports-event contracts on tribal land.
Judge William M. Conley ruled Monday that the federally recognized tribe can proceed with its lawsuit and showed a likelihood of success under the Indian Gaming Regulatory Act.
The case centers on the tribe’s claim that Kalshi’s sports contracts amount to gaming activity barred on its land without complying with IGRA.
The ruling appears to be the first of its kind against Kalshi and could test how prediction-market products are treated when they intersect with tribal gaming law.
Can tribal nations win their 'David and Goliath' fight against federally regulated prediction markets?
Where is the line between a financial contract and an illegal bet in the digital age?