According to the source, Kalshi is seeking court protection from state regulators while it appeals an adverse ruling in Nevada, aiming to limit enforcement actions during the appellate process. Source: https://t.co/RWrCZ3PrGF The firm’s request is intended to preserve continuity in event-contract trading while the appeal is pending, reducing the risk of operational disruption from state-level actions. Source: https://t.co/RWrCZ3PrGF Kalshi operates as a CFTC-designated contract market, which underscores the federal-versus-state jurisdiction issues that can affect listings and market access for event contracts. Source: https://www.cftc.gov/IndustryOversight/MarketPlatforms/DesignatedContractMarkets/index.htm Regulatory sensitivity around event markets has previously led to market interventions, as illustrated by the CFTC’s action against unregistered prediction markets, a backdrop traders should consider when assessing liquidity and listing risk. Source: https://www.cftc.gov/PressRoom/PressReleases/8488-22