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A Tangipahoa Parish judge issued a temporary restraining order against Kalshi, Polymarket, Robinhood and other prediction market operators, Louisiana Attorney General Liz Murrill said.
The order followed a lawsuit from Murrill’s office alleging the companies’ event contracts violate Louisiana gambling laws.
Order Covers Louisiana Users and Advertising
The order prohibits companies from facilitating “event contracts” for anyone located in Louisiana, according to NOLA.com.
SBC Americas reported that the lawsuit names 10 companies. The outlet said the order covers sports event contracts, election and awards markets, and advertising those products. It also requires geofencing to prevent participation by users in Louisiana, according to SBC Americas.
Murrill argues that prediction markets constitute gambling and fall under state regulation, NOLA.com reported.
“It’s not complicated: if you aren’t a licensed gaming operator, you aren’t legal,” Murrill wrote on X, according to NOLA.com.
Kalshi Challenges State Authority
Kalshi and Polymarket argue that their event contracts are financial products governed by federal regulation, NOLA.com reported.
“The operation of federally-regulated exchanges is the exclusive province of the federal government. Full stop.” Kalshi’s head of litigation, Jovy Dedaj, wrote on X, according to NOLA.com.
NOLA.com reported that Kalshi had sued Murrill and other Louisiana officials in federal court two weeks earlier. That lawsuit argues Louisiana lacks authority to regulate the platform, according to the outlet.
Kalshi also sought a restraining order against Murrill and other officials in a Thursday filing, NOLA.com reported. The federal judge had not ruled on that request when the outlet published its report.
The Louisiana dispute joins enforcement actions in more than a dozen states against prediction market companies, according to NOLA.com.
A hearing on Murrill’s request for a preliminary injunction is scheduled for Nov. 30, NOLA.com reported.
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- Ohio Bills Would Treat Sports Predictions Like Gambling, Outlaw Election Bets
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Sources: As reported by NOLA.com and SBC Americas.
