Kalshi faces NY gambling ruling

July 7, Judge Torres denied Kalshi’s injunction request, allowing New York to enforce gambling laws against its event contracts.

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🔥 $ULTIMA hitting key psychological support!

After an aggressive markdown from the 2,900 highs, $ULTIMA has slammed into an intense local demand zone around 2,200 2,350.


The hourly candles are starting to print long lower wicks, signaling that bulls are aggressively step buying this dip.


With the sell side pressure likely exhausted after this steep drop, a relief rally back up to test 2,500+ could be right around the corner. 📈


#Fed minutes show policy split

#US Bitcoin ETFs see outflow

#Kalshi faces NY gambling ruling

#Stablecoins expand payment use

#Prime Intellect raises $130M


$TAC

$VANRY

$BLUR

$MON

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Kenya has proposed draft gambling regulations that introduce several changes in the betting industry Here's a breakdown

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Looks like we're live in the Firefox extensions store. Edge still in review, Chrome wip. Launching soon anyways. Was thinking of trying HN again then hit Reddit after I plan to drop a thread / article on the extension as a playbook of sorts Any advice is well appreciated

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🚨 Google Bans Prediction Market Extensions @Google will prohibit #prediction market extensions on the Chrome Web Store starting August 1, 2026. The policy targets #extensions that enable real-money betting on predictive outcomes and comes as platforms like @Polymarket and @Kalshi face growing regulatory scrutiny. 🔗 Know more in comments

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A federal judge just handed Kalshi a major loss in the Southern District of New York. Judge Analisa Torres denied the prediction market platform's request for a preliminary injunction, a ruling that legal experts say will have knock-on effects across multiple pending cases in Connecticut and other SDNY lawsuits. The case centers on whether prediction markets are regulated financial products or unlicensed gambling operations. Kalshi has argued it operates as a CFTC-regulated designated contract market and that federal oversight preempts state gambling laws. New York Attorney General Letitia James disagrees. Her office is now expected to file a civil enforcement action against Kalshi in state court seeking restitution, disgorgement, civil penalties, and injunctive relief. This is part of a broader legal assault on prediction markets playing out across the country. In Minnesota, a federal judge recently signaled sympathy with the state's argument that platforms like Kalshi and Polymarket have "far exceeded what Congress initially intended" when creating the CFTC framework in 1974. The key question in that case was how to define what Kalshi actually does. Kalshi says "trading on designated contract markets." Minnesota says "gambling." How courts define that field will dictate who wins. Meanwhile the whole thing may be heading to the Supreme Court. Justice Alito just gave New Jersey until August 4 to file a petition challenging a Third Circuit ruling that had sided with Kalshi and shielded its event contracts from state gaming regulation. If SCOTUS takes the case, it could settle the question nationally. Kalshi will appeal the Torres ruling and seek an immediate injunction pending that appeal. But the momentum has clearly shifted. States are winning the argument that prediction markets function like sports betting and should carry the same consumer protections and oversight that licensed sportsbooks provide.

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🚨 LATEST: JUDGE IN RIPPLE CASE DENIES KALSHI INJUNCTION REQUEST ⚖️ U.S. District Judge Analisa Torres, who presided over the SEC v. Ripple case, denied Kalshi's request for a preliminary injunction against the New York State Gaming Commission. #Kalshi #Ripple #Regulation #Crypto

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YGG Pulls Plug on YGG Play: 35 Jobs Cut as Web3 Publisher Falls to Crypto Winter Yield Guild Games is sunsetting its one-year-old publishing arm YGG Play by August 1, 2026, due to unsustainable economics after the October 2025 market crash. The move affects ~35 roles and retires the platform, launchpad, LOL Land, and Waifu Sweeper, while YGG pivots to AI gameplay data and its core guild business.