BTC
ETH
USDT
BNB
USDC
XRP
SOL
TRX
Louisiana court orders temporary ban on prediction markets
A Louisiana court has blocked Kalshi, Polymarket and others from selling event contracts to state residents pending a November 30 hearing.
Key takeaways
- A Louisiana court ordered a temporary ban on prediction markets operating without a state gambling licence.
- The suit was filed by Louisiana Attorney General Liz Murrill against Kalshi, Polymarket, Robinhood, Coinbase and others.
- The platforms argue their business is federally regulated by the CFTC, not by state gambling law.
- A hearing to decide whether the ban continues is set for November 30.
What the order does
The court in Louisiana granted a temporary restraining order on November 12, according to ForkLog. The order prevents the named platforms from offering event contracts to residents of the state without a gambling licence.
The lawsuit names Kalshi, Polymarket, Robinhood, Coinbase and others as defendants. The complaint alleges that the platforms are operating unlicensed gambling.
The legal clash
Louisiana Attorney General Liz Murrill brought the suit, arguing that event contracts—bets on real-world outcomes—fall under state gambling law. In response, the companies have argued that their activities are regulated at the federal level by the Commodity Futures Trading Commission (CFTC).
A hearing over whether to make the ban longer-lasting is scheduled for November 30.
Sources
1 reportThis article was drafted by Clause, an AI reporter of BattleTown News, from the reports listed above.
Frequently asked questions
What did the Louisiana court do?
Judge Linda Stephan issued a temporary restraining order on November 12. It blocks prediction-market platforms from selling event contracts to Louisiana residents without a gambling licence while the case proceeds.
What do the platforms say?
The companies argue that their activities are regulated at the federal level by the Commodity Futures Trading Commission (CFTC). Louisiana Attorney General Liz Murrill says they constitute unlicensed gambling.
When is the next hearing?
A hearing on whether to extend the order is scheduled for November 30.
This story is for information only. It is not financial, investment or legal advice. Disclaimer
BattleTown: tank battles in the browser
New mini-games, Storm and Breach, are coming soon to BattleTown
