# Prediction Market Lawsuit Tracker: 49 Cases, Checked Against the Court Record
Every court case Vultax follows over sports and event contracts, from Supreme Court petitions to class actions and two insider-trading prosecutions: 49 in all, each checked against the court's own documents or docket on 27 September 2026, with the next deadlines first.
Canonical URL: https://vultax.com/research/prediction-market-lawsuit-tracker
Author: [Vultax Research](https://vultax.com/editorial-policy)
Published: 2026-10-01
Last public revision: 2026-10-01
Published research snapshots and calculations; these exports do not contain current quotes or live account data. Observation windows and populations are stated in the source captions and methodology. Missing metadata is unknown, not zero. Lists court cases and filings up to 27 September 2026 as the court record shows them; complaints are allegations and most rulings are on preliminary relief. Nothing here is legal advice.
## Key figures
- Federal appeals courts that have ruled for the states: 2 of 3 — The Ninth Circuit for Nevada on 28 August and the Sixth for Ohio and Tennessee on 25 September 2026; the Third Circuit ruled for the exchange in New Jersey on 6 April
- Supreme Court petitions pending: 3 — Nos. 26-338 and 26-344 from Nevada cases, responses due 14 and 15 October 2026; No. 26-299 from New Jersey, response due 9 November
- States sued by the United States and the CFTC: 8 — Since 2 April 2026; injunctions granted in Arizona and Minnesota, refused in Wisconsin
- Cases checked against the court's own document: 35 of 49 — The other 14: 4 against the docket index only, where the filing is not public, and 10 in part; checked 27 September 2026
## What comes next
The Supreme Court's October Term opens on 5 October 2026 with three petitions on its docket asking whether federal law pre-empts state gambling law for sports event contracts. Robinhood's, from the Ninth Circuit's ruling for Nevada, has a response due on 14 October; Crypto.com's on 15 October; New Jersey's, from the Third Circuit's ruling for Kalshi, on 9 November after an extension. Below them, the Fourth Circuit has yet to rule on Maryland's case, argued on 7 May, and a Second Circuit panel is hearing Kalshi's injunction motions in the New York and Connecticut appeals together.
Dates from the Supreme Court's docket and calendar and from the district court's docket, read 27 September 2026.
| Date | Case | What is due |
| --- | --- | --- |
| 5 Oct 2026 | [Supreme Court of the United States](https://www.supremecourt.gov/oral_arguments/2026TermCourtCalendar.pdf) | October Term opens |
| 14 Oct 2026 | [Robinhood Derivatives v. Dreitzer, No. 26-338](https://www.supremecourt.gov/docket/docketfiles/html/public/26-338.html) | Response to the petition |
| 15 Oct 2026 | [North American Derivatives Exchange (Crypto.com) v. Nevada, No. 26-344](https://www.supremecourt.gov/docket/docketfiles/html/public/26-344.html) | Response to the petition |
| 9 Nov 2026 | [Flaherty v. KalshiEX, No. 26-299](https://www.supremecourt.gov/docket/docketfiles/html/public/26-299.html) | Kalshi's response to the petition, extended from 8 October |
| 8 Jan 2027 | [Federación Mexicana de Fútbol Asociación v. Kalshi](https://www.courtlistener.com/docket/74835453/federacion-mexicana-de-futbol-asociacion-ac-v-kalshi-inc/) | Initial pretrial conference |
[CSV](https://vultax.com/research/prediction-market-lawsuit-tracker/data.csv?dataset=next-table) · [JSON](https://vultax.com/research/prediction-market-lawsuit-tracker/data.json?dataset=next-table)
## Where the courts stand
The appeals courts are split. The Third Circuit held on 6 April 2026 that Kalshi is likely to show the Commodity Exchange Act pre-empts New Jersey's gambling laws for its sports event contracts. The Ninth Circuit, on 28 August, and the Sixth, on 25 September, sided with the states: neither accepted that the contracts are swaps under the CFTC's exclusive jurisdiction, which would have put them beyond the reach of state gaming law. Each ruling is on preliminary relief, and three petitions ask the Supreme Court to settle the question.
Below the appeals courts, the federal government has taken the venues' side. The United States and the CFTC have sued eight states, and the district courts have gone both ways: injunctions in Arizona on 5 May and Minnesota on 27 July, a refusal in Wisconsin on 28 July. States and cities have brought cases of their own against Kalshi and Polymarket US, the newest being New York's on 24 September; tribes have sued over contracts entered on their land; users have brought class actions against both venues; and two traders have been charged with insider trading on Polymarket's international venue.
What the cases mean for each venue and state is set out in [Is Polymarket legal in the US?](https://vultax.com/research/is-polymarket-legal-in-the-us-2026); Is Polymarket just sports betting? measures how much of the trading they concern.
## Supreme Court petitions (3)
Three petitions ask the Supreme Court whether federal law pre-empts state gambling law for sports event contracts traded on CFTC-registered markets. Two come from the Ninth Circuit's rulings for Nevada and one from the Third Circuit's ruling against New Jersey.
Checked 27 September 2026 against the court's own document, the docket index only, or partly (the part read is named). Each case links to its document or docket. Complaints and petitions are allegations. Latest entry is the most recent dated entry seen.
| Case | State and venue | Status | Latest entry | Checked |
| --- | --- | --- | --- | --- |
| [Flaherty, et al. v. KalshiEX LLC](https://www.supremecourt.gov/docket/docketfiles/html/public/26-299.html), U.S. Supreme Court No. 26-299, from 3d Cir. 25-1922 | New Jersey · Kalshi | Petition pending; Kalshi's response due 9 November 2026 (extended) | 22 Sep 2026 | Document |
| [North American Derivatives Exchange (Crypto.com) v. Nevada, et al.](https://www.supremecourt.gov/docket/docketfiles/html/public/26-344.html), U.S. Supreme Court No. 26-344, from 9th Cir. 25-7187 | Nevada · Crypto.com | Petition pending; response due 15 October 2026 | 15 Sep 2026 | Document |
| [Robinhood Derivatives LLC v. Dreitzer, et al.](https://www.supremecourt.gov/docket/docketfiles/html/public/26-338.html), U.S. Supreme Court No. 26-338, from 9th Cir. 25-7831 | Nevada · Robinhood | Petition pending; response due 14 October 2026 | 14 Sep 2026 | Document |
[CSV](https://vultax.com/research/prediction-market-lawsuit-tracker/data.csv?dataset=supreme-court-petitions-table) · [JSON](https://vultax.com/research/prediction-market-lawsuit-tracker/data.json?dataset=supreme-court-petitions-table)
## Appeals-court rulings (5)
The Third Circuit ruled for the exchange in New Jersey on 6 April 2026. The Ninth Circuit ruled for Nevada in three appeals decided on 28 August, and the Sixth for Ohio and Tennessee on 25 September. All five rulings are on preliminary relief.
Checked 27 September 2026 against the court's own document, the docket index only, or partly (the part read is named). Each case links to its document or docket. Complaints and petitions are allegations. Latest entry is the most recent dated entry seen.
| Case | State and venue | Status | Latest entry | Checked |
| --- | --- | --- | --- | --- |
| [KalshiEX LLC v. Schuler; KalshiEX LLC v. Orgel](https://www.opn.ca6.uscourts.gov/opinions.pdf/26a0272p-06.pdf), 6th Cir. 26-3196 and 26-5235 | Ohio, Tennessee · Kalshi | For the states: contracts not shown to be swaps; Ohio's denial of an injunction affirmed, Tennessee's grant vacated; preliminary relief only | 25 Sep 2026 | Document |
| [KalshiEX LLC v. Flaherty, et al.](https://www2.ca3.uscourts.gov/opinarch/251922p.pdf), 3d Cir. 25-1922 | New Jersey · Kalshi | For Kalshi: New Jersey's preliminary injunction for Kalshi upheld, one judge dissenting; petition 26-299 pending | 22 Sep 2026 | Document |
| [North American Derivatives Exchange (Crypto.com) v. Nevada, et al.](https://www.supremecourt.gov/DocketPDF/26/26-344/423887/20260911105156438_CDNA%20v.%20Nevada%20-%20Cert%20Petition%20Appendix%20FILE.pdf), 9th Cir. 25-7187 | Nevada · Crypto.com | For Nevada: contracts not swaps, denial affirmed in an unpublished memorandum; petition 26-344 pending | 15 Sep 2026 | Document |
| [Robinhood Derivatives LLC v. Dreitzer, et al.](https://www.supremecourt.gov/DocketPDF/26/26-338/423750/20260910115048061_Robinhood%20Pet.App.pdf), 9th Cir. 25-7831 | Nevada · Robinhood | For Nevada: denial of Robinhood's request affirmed in an unpublished memorandum; petition 26-338 pending | 14 Sep 2026 | Document |
| [KalshiEX LLC v. Assad, et al.](https://cdn.ca9.uscourts.gov/datastore/opinions/2026/08/28/25-7516.pdf), 9th Cir. 25-7516 | Nevada · Kalshi | For Nevada: dissolution of Kalshi's injunction affirmed; election contracts sent back; preliminary relief only | 28 Aug 2026 | Document |
[CSV](https://vultax.com/research/prediction-market-lawsuit-tracker/data.csv?dataset=appeals-court-rulings-table) · [JSON](https://vultax.com/research/prediction-market-lawsuit-tracker/data.json?dataset=appeals-court-rulings-table)
## The United States and the CFTC against states (8)
Since 2 April 2026 the United States and the CFTC have sued eight states to stop them applying gambling law to exchanges the CFTC regulates. Judges granted injunctions in Arizona and Minnesota and refused one in Wisconsin.
Checked 27 September 2026 against the court's own document, the docket index only, or partly (the part read is named). Each case links to its document or docket. Complaints and petitions are allegations. Latest entry is the most recent dated entry seen.
| Case | State and venue | Status | Latest entry | Checked |
| --- | --- | --- | --- | --- |
| [United States and CFTC v. Wisconsin, et al.](https://www.wied.uscourts.gov/sites/wied/files/documents/54%20-%20Order%20Denying%20Motions%2C%20Directing%20R16.pdf), E.D. Wis. 2:26-cv-00749 | Wisconsin · All registered exchanges | Preliminary injunction denied (signed 28 July 2026); appeals in the Seventh Circuit; district case administratively closed | 9 Sep 2026 | Document |
| [United States and CFTC v. Minnesota, et al.; KalshiEX LLC v. Ellison; QCX LLC (Polymarket US) v. Ellison](https://www.govinfo.gov/content/pkg/USCOURTS-mnd-0_26-cv-02661/pdf/USCOURTS-mnd-0_26-cv-02661-0.pdf), D. Minn. 0:26-cv-02661, with 26-cv-2778 and 26-cv-2841 | Minnesota · Kalshi, Polymarket US, All registered exchanges | Preliminary injunctions granted in all three cases (27 July 2026): Minnesota may not enforce its prediction-market law against CFTC-registered exchanges until a final decision | 27 Jul 2026 | Document |
| [United States and CFTC v. New Mexico, et al.](https://www.govinfo.gov/content/pkg/USCOURTS-nmd-1_26-cv-01912/pdf/USCOURTS-nmd-1_26-cv-01912-0.pdf), D.N.M. 1:26-cv-01912 | New Mexico · Kalshi | Complaint (allegations); injunction and dismissal motions briefed; no ruling seen | 30 Jun 2026 | Document |
| [United States and CFTC v. Kentucky, et al.](https://www.cftc.gov/media/14271/OGC_KentuckyComplaint062326/download), E.D. Ky. 3:26-cv-00049 | Kentucky · Kalshi, Polymarket US, Robinhood, Coinbase, Webull | Complaint (allegations); no ruling seen | 23 Jun 2026 | Partly: complaint |
| [United States and CFTC v. Arizona, et al.; KalshiEX LLC v. Johnson, et al.](https://www.govinfo.gov/content/pkg/USCOURTS-azd-2_26-cv-01715/pdf/USCOURTS-azd-2_26-cv-01715-2.pdf), D. Ariz. 2:26-cv-01715 and 2:26-cv-02246; 9th Cir. 26-2978 | Arizona · Kalshi, All registered exchanges | Preliminary injunction for the United States and CFTC against Arizona's criminal and civil enforcement (5 May 2026); Kalshi's own motion denied; on appeal | 11 May 2026 | Document |
| [United States and CFTC v. New York, et al.](https://www.cftc.gov/media/13766/ENFNewYorkComplanit042426/download), S.D.N.Y. 1:26-cv-03404 | New York · Kalshi, Coinbase, Gemini | Complaint (allegations); no ruling seen in a court document | 24 Apr 2026 | Partly: complaint |
| [United States and CFTC v. Connecticut, et al.](https://www.cftc.gov/media/13626/EnfNedLamontComplaint040226/download), D. Conn. 3:26-cv-00498 | Connecticut · Kalshi, Crypto.com, Robinhood | Complaint (allegations); no ruling seen | 2 Apr 2026 | Partly: complaint |
| [United States and CFTC v. Illinois, et al.](https://www.cftc.gov/media/13621/EnfJBPritzkerComplaint040226/download), N.D. Ill. 1:26-cv-03659 | Illinois · Kalshi, Crypto.com, Polymarket US, Robinhood | Complaint (allegations); no ruling seen | 2 Apr 2026 | Partly: complaint |
[CSV](https://vultax.com/research/prediction-market-lawsuit-tracker/data.csv?dataset=federal-suits-against-states-table) · [JSON](https://vultax.com/research/prediction-market-lawsuit-tracker/data.json?dataset=federal-suits-against-states-table)
## Exchanges against states (6)
Exchanges have sued state officials to stop enforcement. Courts in Connecticut, New York, Maryland and Michigan refused them preliminary injunctions, and those appeals are pending.
Checked 27 September 2026 against the court's own document, the docket index only, or partly (the part read is named). Each case links to its document or docket. Complaints and petitions are allegations. Latest entry is the most recent dated entry seen.
| Case | State and venue | Status | Latest entry | Checked |
| --- | --- | --- | --- | --- |
| [QCX LLC (Polymarket US) v. James, et al.](https://storage.courtlistener.com/recap/gov.uscourts.nysd.673553/gov.uscourts.nysd.673553.1.0.pdf), S.D.N.Y. 1:26-cv-08345 | New York · Polymarket US | Complaint: asks for New York's gambling laws to be declared pre-empted as applied to Polymarket US; no ruling | 25 Sep 2026 | Document |
| [KalshiEX LLC v. Martin, et al.](https://www.govinfo.gov/content/pkg/USCOURTS-mdd-1_25-cv-01283/pdf/USCOURTS-mdd-1_25-cv-01283-0.pdf), 4th Cir. 25-1892, from D. Md. 1:25-cv-01283 | Maryland · Kalshi | Argued 7 May 2026, undecided; the denial of Kalshi's injunction stands; Kalshi has told the court of a forthcoming CFTC regulation | 25 Sep 2026 | Document |
| [QCX LLC (Polymarket US) v. Nessel, et al.](https://storage.courtlistener.com/recap/gov.uscourts.miwd.119537/gov.uscourts.miwd.119537.41.0.pdf), W.D. Mich. 1:26-cv-00710; 6th Cir. 26-1552 | Michigan · Polymarket US | Preliminary injunction denied (17 June 2026); appeal being briefed | 16 Sep 2026 | Document |
| [KalshiEX LLC v. Cafferelli, et al.](https://ecf.ctd.uscourts.gov/cgi-bin/show_public_doc?2025cv2016-99=), D. Conn. 3:25-cv-02016; 2d Cir. 26-2239 | Connecticut · Kalshi | Preliminary injunction denied (order signed 7 August 2026, entered 10 August); injunction pending appeal denied 15 August; appeal pending; district case paused | 25 Aug 2026 | Document |
| [KalshiEX LLC v. Williams, et al.](https://ag.ny.gov/sites/default/files/court-filings/kalshiex-llc-v-new-york-state-gaming-commission-et-al-opinion-and-order-2026.pdf), S.D.N.Y. 1:25-cv-08846; 2d Cir. 26-1835 | New York · Kalshi | Preliminary injunction denied (7 July 2026); appeal pending, heard with the Connecticut appeal | 21 Aug 2026 | Document |
| [KalshiEX LLC v. Furcolo, et al.](https://www.cftc.gov/media/14056/OGC_RhodeIslandMotionIntervene052826/download), D.R.I. 1:26-cv-00327 | Rhode Island · Kalshi | The United States and CFTC moved to join Kalshi's suit; outcome not verified | 28 May 2026 | Partly: motion to intervene |
[CSV](https://vultax.com/research/prediction-market-lawsuit-tracker/data.csv?dataset=exchanges-against-states-table) · [JSON](https://vultax.com/research/prediction-market-lawsuit-tracker/data.json?dataset=exchanges-against-states-table)
## State and city enforcement (15)
States and cities have sued Kalshi, Polymarket and other venues, mostly in state court; most cases were removed to federal court, and several have been sent back. Washington and Massachusetts won preliminary injunctions against Kalshi, and Nevada won a restraining order against Polymarket.
Checked 27 September 2026 against the court's own document, the docket index only, or partly (the part read is named). Each case links to its document or docket. Complaints and petitions are allegations. Latest entry is the most recent dated entry seen.
| Case | State and venue | Status | Latest entry | Checked |
| --- | --- | --- | --- | --- |
| [People of the State of New York v. QCX LLC (Polymarket US)](https://ag.ny.gov/sites/default/files/court-filings/new-york-v-polymarket-us-petition-2026.pdf), N.Y. Supreme Court, New York County; removed, S.D.N.Y. 1:26-cv-08338 | New York · Polymarket US | Petition (allegations): unlicensed gambling, including for users aged 18 to 20; removed to federal court; no ruling | 25 Sep 2026 | Document |
| [State of Washington v. KalshiEX LLC](https://agportal-s3bucket.s3.us-west-2.amazonaws.com/Consumer%20Protection/64_OrdGrantAmendMtnPI.pdf?VersionId=a9FvcaBwWpQETWxbKUdHL1jqjTOD6XAi), King County Superior Court 26-2-10264-3 SEA; 9th Cir. 26-3106 | Washington · Kalshi | Preliminary injunction (12 August 2026): Kalshi must stop offering sports, election and other listed contracts in Washington; Kalshi's appeal of the remand paused | 23 Sep 2026 | Document |
| [State of Wisconsin v. QCX LLC (Polymarket US)](https://www.courtlistener.com/docket/73240102/state-of-wisconsin-v-qcx-llc/), Dane County 26cv1285; removed, W.D. Wis. 3:26-cv-00375 | Wisconsin · Polymarket US | Removed to federal court; remand and transfer motions pending | 22 Sep 2026 | Docket only |
| [State of Wisconsin v. Kalshi Inc., et al.](https://www.courtlistener.com/docket/73243156/state-of-wisconsin-v-kalshi-inc/), Dane County 26-CV-1284; removed, W.D. Wis. 3:26-cv-00378 | Wisconsin · Kalshi, Coinbase, Robinhood | Removed to federal court; remand and preliminary-injunction motions pending | 22 Sep 2026 | Docket only |
| [People of the State of New York v. Coinbase Financial Markets](https://ag.ny.gov/sites/default/files/court-filings/new-york-v-coinbase-financial-markets-inc-petition-2026.pdf), Index 451604/2026; removed, S.D.N.Y. 1:26-cv-03300 | New York · Coinbase | Petition (allegations); remand motion pending | 18 Sep 2026 | Document |
| [State of Nevada v. KalshiEX LLC](https://storage.courtlistener.com/recap/gov.uscourts.ca9.38c1b55e-7870-40ad-a65f-e00e8f69a603/gov.uscourts.ca9.38c1b55e-7870-40ad-a65f-e00e8f69a603.20.0.pdf), D. Nev. 2:26-cv-00406; 9th Cir. 26-1304 | Nevada · Kalshi | Sent back to state court; Ninth Circuit refused Kalshi a stay; appeal pending | 18 Sep 2026 | Partly: Ninth Circuit stay order |
| [State of Connecticut v. KalshiEX LLC](https://storage.courtlistener.com/recap/gov.uscourts.ctd.172615/gov.uscourts.ctd.172615.1.1.pdf), Hartford Superior Court; removed, D. Conn. 3:26-cv-01382 | Connecticut · Kalshi | Complaint (allegations); remand motion pending; deadlines paused | 17 Sep 2026 | Document |
| [People of the State of New York v. Gemini Titan](https://ag.ny.gov/sites/default/files/court-filings/new-york-v-gemini-titan-llc-petition-2026.pdf), Index 451603/2026; removed, S.D.N.Y. 1:26-cv-03318 | New York · Gemini | Petition (allegations); remand motion pending | 31 Aug 2026 | Document |
| [People of the State of New York v. KalshiEX LLC](https://ag.ny.gov/sites/default/files/court-filings/new-york-v-kalshiex-llc-petition-2026.pdf), N.Y. Supreme Court; removed, S.D.N.Y. 1:26-cv-06550 | New York · Kalshi | Petition (allegations); remand motion fully briefed, undecided; no preliminary relief entered | 28 Aug 2026 | Document |
| [State of Nevada v. Blockratize Inc. (Polymarket), et al.](https://storage.courtlistener.com/recap/gov.uscourts.nvd.179406/gov.uscourts.nvd.179406.41.0.pdf), Carson City district court; D. Nev. 3:26-cv-00089; 9th Cir. 26-1343 | Nevada · polymarket.com, Polymarket US | Restraining order in state court (29 January 2026); sent back to state court 2 March; Ninth Circuit refused Polymarket a stay; appeal pending | 28 Aug 2026 | Document |
| [Nessel (Michigan Attorney General) v. KalshiEX LLC](https://storage.courtlistener.com/recap/gov.uscourts.miwd.119560/gov.uscourts.miwd.119560.20.0.pdf), Ingham County Circuit Court; W.D. Mich. 1:26-cv-00731; 6th Cir. 26-1639 | Michigan · Kalshi | Sent back to state court; Kalshi's appeal held for the Ohio and Tennessee appeals, decided 25 September | 24 Aug 2026 | Document |
| [City of Baltimore v. QCX LLC (Polymarket US), et al.](https://dicellolevitt.com/wp-content/uploads/2026/08/Polymarket-City-of-Baltimore-Complaint.pdf), Baltimore City Circuit Court; removed, D. Md. 1:26-cv-03253 | Maryland · Polymarket US | Complaint (allegations) under the city's consumer-protection ordinance; removed; no ruling seen | 21 Aug 2026 | Document |
| [City of Baltimore v. KalshiEX LLC, et al.](https://dicellolevitt.com/wp-content/uploads/2026/08/Kalshi-City-of-Baltimore-Complaint.pdf), Baltimore City Circuit Court; removed, D. Md. 1:26-cv-03217 | Maryland · Kalshi | Complaint (allegations) under the city's consumer-protection ordinance; removed; no ruling seen | 17 Aug 2026 | Document |
| [Commonwealth of Kentucky v. QCX LLC (Polymarket US)](https://www.courtlistener.com/docket/73504311/commonwealth-of-kentucky-v-qcx-llc/), Franklin Circuit Court 26-CI-696; removed, E.D. Ky. 3:26-cv-00047 | Kentucky · Polymarket US | Removed to federal court; remand motion pending | 28 Jul 2026 | Docket only |
| [Commonwealth of Massachusetts v. KalshiEX LLC](https://www.mass.gov/doc/kalshi-pi-order/download), Suffolk Superior Court 2584CV02525; SJC-13906 | Massachusetts · Kalshi | Preliminary injunction allowed (20 January 2026); appeal at the Supreme Judicial Court; stayed pending appeal, according to the Connecticut federal court | Not seen | Partly: Superior Court ruling |
[CSV](https://vultax.com/research/prediction-market-lawsuit-tracker/data.csv?dataset=state-and-city-enforcement-table) · [JSON](https://vultax.com/research/prediction-market-lawsuit-tracker/data.json?dataset=state-and-city-enforcement-table)
## Tribal suits (3)
Tribes in California, Wisconsin and New Mexico argue that sports contracts entered on their land violate the Indian Gaming Regulatory Act. The Ninth Circuit held that the California tribes are likely to win.
Checked 27 September 2026 against the court's own document, the docket index only, or partly (the part read is named). Each case links to its document or docket. Complaints and petitions are allegations. Latest entry is the most recent dated entry seen.
| Case | State and venue | Status | Latest entry | Checked |
| --- | --- | --- | --- | --- |
| [Mescalero Apache Tribe, et al. v. Kalshi Inc. and KalshiEX LLC](https://storage.courtlistener.com/recap/gov.uscourts.nmd.556685/gov.uscourts.nmd.556685.1.0_2.pdf), D.N.M. 2:26-cv-01517 | New Mexico · Kalshi | Motion to dismiss and injunction motion heard 23 September 2026; under advisement | 23 Sep 2026 | Document |
| [Ho-Chunk Nation v. Kalshi Inc., et al.](https://www.govinfo.gov/content/pkg/USCOURTS-wiwd-3_25-cv-00698/pdf/USCOURTS-wiwd-3_25-cv-00698-1.pdf), W.D. Wis. 3:25-cv-00698; 7th Cir. 26-8020 | Wisconsin · Kalshi | Tribe likely to win under the Indian Gaming Regulatory Act, but injunction denied; case stayed while Kalshi asks to appeal | 22 Sep 2026 | Document |
| [Blue Lake Rancheria, et al. v. Kalshi Inc., et al.](https://cdn.ca9.uscourts.gov/datastore/opinions/2026/09/16/25-7504.pdf), 9th Cir. 25-7504, from N.D. Cal. 3:25-cv-06162 | California · Kalshi | For the tribes: likely to win under the Indian Gaming Regulatory Act on tribal land; injunction sent back to the district court | 16 Sep 2026 | Document |
[CSV](https://vultax.com/research/prediction-market-lawsuit-tracker/data.csv?dataset=tribal-suits-table) · [JSON](https://vultax.com/research/prediction-market-lawsuit-tracker/data.json?dataset=tribal-suits-table)
## Private suits and class actions (7)
Users have brought class actions against Kalshi and Polymarket, mostly over unlicensed sports betting, and the venues want them sent to arbitration. The Mexican football federation has sued Kalshi over its trademarks.
Checked 27 September 2026 against the court's own document, the docket index only, or partly (the part read is named). Each case links to its document or docket. Complaints and petitions are allegations. Latest entry is the most recent dated entry seen.
| Case | State and venue | Status | Latest entry | Checked |
| --- | --- | --- | --- | --- |
| [Federación Mexicana de Fútbol Asociación v. Kalshi Inc. and KalshiEX LLC](https://storage.courtlistener.com/recap/gov.uscourts.nysd.673378/gov.uscourts.nysd.673378.4.0.pdf), S.D.N.Y. 1:26-cv-08259 | New York · Kalshi | Trademark suit just filed; the complaint is not public; no response from Kalshi | 25 Sep 2026 | Docket only |
| [Moeller v. Blockratize Inc. (Polymarket), et al.](https://storage.courtlistener.com/recap/gov.uscourts.dcd.296174/gov.uscourts.dcd.296174.1.1.pdf), D.C. Superior Court 2026-CAB-004615; removed, D.D.C. 1:26-cv-03083 | District of Columbia · polymarket.com, Polymarket US | Consumer class action (allegations); a filing labelled as a dismissal was entered 25 September, not read | 25 Sep 2026 | Document |
| [Pernas v. KalshiEX LLC, et al.](https://storage.courtlistener.com/recap/gov.uscourts.nysd.671687/gov.uscourts.nysd.671687.1.0.pdf), S.D.N.Y. 1:26-cv-07419 | New York · Kalshi | Individual dispute over one contract (allegations); time to answer extended | 22 Sep 2026 | Partly: complaint |
| [San Diego and Yoon v. Blockratize Inc. (Polymarket), et al.](https://storage.courtlistener.com/recap/gov.uscourts.nysd.657330/gov.uscourts.nysd.657330.38.0.pdf), S.D.N.Y. 1:26-cv-00973, consolidated | New York · polymarket.com, Polymarket US | Class action against both Polymarket venues (allegations); motion to compel arbitration fully briefed | 18 Sep 2026 | Document |
| [Moran v. KalshiEX LLC and Kalshi Inc.](https://storage.courtlistener.com/recap/gov.uscourts.vaed.605382/gov.uscourts.vaed.605382.1.0.pdf), E.D. Va. 1:26-cv-03008 | Virginia · Kalshi | Individual challenge to a Kalshi disciplinary penalty (allegations) | 10 Sep 2026 | Document |
| [In re Kalshi Sports Prediction Market Litigation](https://storage.courtlistener.com/recap/gov.uscourts.nysd.651290/gov.uscourts.nysd.651290.47.0.pdf), S.D.N.Y. 1:25-cv-08585, consolidated | New York · Kalshi | Class action (allegations); limited discovery before Kalshi's motion to compel arbitration | 15 Jul 2026 | Document |
| [Illinois Gambling Recovery LLC v. Kalshi Inc., et al.](https://storage.courtlistener.com/recap/gov.uscourts.ilnd.486573/gov.uscourts.ilnd.486573.41.0.pdf), N.D. Ill. 1:25-cv-11374 | Illinois · Kalshi, Robinhood, Webull | Gambling-loss recovery suit sent back to state court in Cook County | 29 Apr 2026 | Document |
[CSV](https://vultax.com/research/prediction-market-lawsuit-tracker/data.csv?dataset=private-suits-table) · [JSON](https://vultax.com/research/prediction-market-lawsuit-tracker/data.json?dataset=private-suits-table)
## Insider-trading prosecutions (2)
Two traders have been charged with insider trading on polymarket.com, each in a criminal case with a parallel CFTC complaint in Manhattan. How an insider screen treats their trading is in [Polymarket insider trading: the charged cases](https://vultax.com/research/polymarket-longshot-insider-screen-base-rate).
Checked 27 September 2026 against the court's own document, the docket index only, or partly (the part read is named). Each case links to its document or docket. Complaints and petitions are allegations. Latest entry is the most recent dated entry seen.
| Case | State and venue | Status | Latest entry | Checked |
| --- | --- | --- | --- | --- |
| [United States v. Spagnuolo; CFTC v. Spagnuolo](https://www.cftc.gov/PressRoom/PressReleases/9237-26), S.D.N.Y. 1:26-cr-00278 and 1:26-cv-04419 | New York · polymarket.com | Charged 27 May 2026 (allegations); criminal pretrial stage | 18 Sep 2026 | Partly: CFTC's release |
| [United States v. Van Dyke; CFTC v. Van Dyke](https://www.cftc.gov/PressRoom/PressReleases/9217-26), S.D.N.Y. 1:26-cr-00156 and 1:26-cv-03369 | New York · polymarket.com | Charged 23 April 2026 (allegations); criminal case in pretrial motions; CFTC civil case stayed | 15 Sep 2026 | Partly: release and stay order |
[CSV](https://vultax.com/research/prediction-market-lawsuit-tracker/data.csv?dataset=insider-trading-prosecutions-table) · [JSON](https://vultax.com/research/prediction-market-lawsuit-tracker/data.json?dataset=insider-trading-prosecutions-table)
## Method and limits
Checked on 27 September 2026. Each case was read against the court's own opinion, order, complaint or petition where one could be opened (35 cases), against the docket index alone where the filing is not public (4), or in part (10), and each row says which. Quoted holdings were checked against the saved text of their documents.
Dockets come from the Supreme Court's site, the appeals courts' opinion pages, the CFTC's filings and CourtListener's copy of the federal courts' records, which can lag the court. Federal appellate dockets and state dockets behind a login were not read, so the latest entry is the latest seen, not a guarantee that nothing has happened since. Several court sites block automated reading.
The list is a selection of the cases that decide where sports event contracts may be offered, not a census. Cases seen only in search listings or described only in another party's filing are left out until a document or docket can be opened. Complaints and petitions are allegations, and most rulings listed are on preliminary relief, not final judgments. [All 49 rows as a CSV](https://vultax.com/datasets/prediction-market-lawsuit-tracker-2026-09-27.csv).
## Questions
### How many prediction market lawsuits are there?
Vultax tracks 49 court cases as of 27 September 2026: 3 Supreme Court petitions, 5 appeals-court rulings, 8 suits by the United States and the CFTC against states, 6 suits by exchanges against states, 15 state or city enforcement cases, 3 tribal suits, 7 private suits and class actions, and 2 insider-trading prosecutions. It is a selection of the cases that decide where sports event contracts may be offered, not a census.
### Has Polymarket been sued?
Yes. Nevada's gaming regulator sued Polymarket in January 2026 and won a temporary restraining order in state court; Wisconsin, Kentucky, New York and the City of Baltimore have sued Polymarket US; and users have brought class actions in New York and Washington, D.C. Polymarket US has sued New York and Michigan officials in turn, and was one of the plaintiffs when a Minnesota federal judge barred the state's prediction-market law on 27 July 2026.
### Has Kalshi been sued?
Yes, more than any other venue in the list: by states and cities including New York, Washington, Massachusetts, Connecticut, Michigan, Nevada, Wisconsin and Baltimore; by tribes in California, Wisconsin and New Mexico; and by users, including a consolidated class action in New York. Kalshi has also sued state regulators; on appeal it won in the Third Circuit and lost in the Sixth and Ninth.
### Has the CFTC sued any states over prediction markets?
Yes. Since 2 April 2026 the United States and the CFTC have sued eight states: Arizona, Connecticut, Illinois, New York, Wisconsin, Minnesota, New Mexico and Kentucky. Federal judges granted injunctions in Arizona on 5 May and Minnesota on 27 July and refused one in Wisconsin on 28 July; no ruling was seen in the other five by 27 September 2026.
### When are the Supreme Court responses on prediction markets due?
Three petitions are pending. Responses are due on 14 October 2026 in Robinhood Derivatives v. Dreitzer (No. 26-338), on 15 October in Crypto.com's case against Nevada (No. 26-344) and on 9 November in New Jersey's case against Kalshi (No. 26-299). The Court's October Term opens on 5 October.
## Sources and methodology
- [Supreme Court docket — Flaherty v. KalshiEX, No. 26-299](https://www.supremecourt.gov/docket/docketfiles/html/public/26-299.html) — Response extended to 9 November 2026
- [Supreme Court docket — Robinhood Derivatives v. Dreitzer, No. 26-338](https://www.supremecourt.gov/docket/docketfiles/html/public/26-338.html) — Response due 14 October 2026
- [Supreme Court docket — North American Derivatives Exchange v. Nevada, No. 26-344](https://www.supremecourt.gov/docket/docketfiles/html/public/26-344.html) — Response due 15 October 2026
- [Supreme Court — October Term 2026 calendar](https://www.supremecourt.gov/oral_arguments/2026TermCourtCalendar.pdf) — The term opens on 5 October 2026
- [U.S. Court of Appeals, Third Circuit — KalshiEX v. Flaherty, No. 25-1922 (6 Apr 2026)](https://www2.ca3.uscourts.gov/opinarch/251922p.pdf) — Precedential opinion
- [U.S. Court of Appeals, Ninth Circuit — KalshiEX v. Assad, No. 25-7516 (28 Aug 2026)](https://cdn.ca9.uscourts.gov/datastore/opinions/2026/08/28/25-7516.pdf) — Published opinion
- [U.S. Court of Appeals, Sixth Circuit — KalshiEX v. Schuler and KalshiEX v. Orgel (25 Sep 2026)](https://www.opn.ca6.uscourts.gov/opinions.pdf/26a0272p-06.pdf) — Recommended for publication
- [CFTC — release 9206-26: suits against Arizona, Connecticut and Illinois (2 Apr 2026)](https://www.cftc.gov/PressRoom/PressReleases/9206-26) — The first of the federal suits against states
- [CFTC — release 9218-26: suit against New York (24 Apr 2026)](https://www.cftc.gov/PressRoom/PressReleases/9218-26)
- [CFTC — release 9220-26: suit against Wisconsin (28 Apr 2026)](https://www.cftc.gov/PressRoom/PressReleases/9220-26)
- [CFTC — release 9233-26: suit against Minnesota (19 May 2026)](https://www.cftc.gov/PressRoom/PressReleases/9233-26)
- [CFTC — release 9238-26: joining Kalshi's suit against Rhode Island (28 May 2026)](https://www.cftc.gov/PressRoom/PressReleases/9238-26)
- [CFTC — release 9251-26: suit against New Mexico (12 Jun 2026)](https://www.cftc.gov/PressRoom/PressReleases/9251-26)
- [CFTC — release 9260-26: suit against Kentucky (23 Jun 2026)](https://www.cftc.gov/PressRoom/PressReleases/9260-26)
- [CFTC — release 9217-26: insider-trading charges over the operation to capture Nicolás Maduro (23 Apr 2026)](https://www.cftc.gov/PressRoom/PressReleases/9217-26) — Allegations
- [CFTC — release 9237-26: insider-trading charges over Google's Year in Search (27 May 2026)](https://www.cftc.gov/PressRoom/PressReleases/9237-26) — Allegations
- [CourtListener — RECAP archive of federal dockets](https://www.courtlistener.com/) — Copies of federal docket entries and filings; can lag the court
- [Vultax: Is Polymarket legal in the US?](https://vultax.com/research/is-polymarket-legal-in-the-us-2026) — What the cases mean venue by venue and state by state
- [Vultax: Polymarket insider trading, the charged cases](https://vultax.com/research/polymarket-longshot-insider-screen-base-rate) — How an insider screen treats the two charged cases