MoFo's Financial Markets & Innovation

On February 19, a U.S. District Judge ruled that certain sports events contracts are swaps in a case regarding a potential enforcement action with Kalshi. In a memo granting Kalshi’s motion for a preliminary injunction, the judge blocked an enforcement action by the Tennessee Attorney General and the director and chairman of the Tennessee Sports Wagering Council because Kalshi is likely to succeed with its claims that its contracts are federally regulated swaps.... By: Morrison & Foerster LLP