The U.S. federal appellate court did not accept the request to halt lawsuits filed by prediction market platforms Kalshi and Polymarket. According to Bloomberg, the U.S. 9th Circuit Court of Appeals dismissed the two companies' requests to halt enforcement lawsuits in Nevada and Washington states. Accordingly, the related lawsuits will proceed as scheduled in each state court. The court pointed out that the two platforms failed to sufficiently demonstrate that they would suffer irreparable harm even if they had to respond to lawsuits in state courts. Furthermore, it stated that the reason for dismissal was also that they failed to prove that the case falls under federal court jurisdiction. Kalshi and Polymarket, which have been attempting to enter the institutional sphere and expand their scope despite pressure from regulatory authorities, now face significant legal risks as a result of this ruling, requiring them to directly respond to legal actions from each state government.
