Judge Who Ruled XRP Not a Security in Ripple Case Hands Kalshi ‘A Major, Major Loss’ in New York
The post Judge Who Ruled XRP Not a Security in Ripple Case Hands Kalshi ‘A Major, Major Loss’ in New York appeared on BitcoinEthereumNews.com. Key Takeaways Judge Torres denied Kalshi’s injunction, ruling NY gambling laws aren’t preempted by the Commodity Exchange Act. The decision breaks with the Third Circuit’s April 2026 ruling that shielded Kalshi from New Jersey regulators. Kalshi posted a record $31 billion in June volume, raising the stakes as the case heads to motion-to-dismiss. Another Major Ruling From Torres U.S. District Judge Analisa Torres has denied prediction market exchange Kalshi a preliminary injunction against New York gaming regulators, Crypto in America journalist Eleanor Terrett reported. Torres found that New York’s gambling laws, as applied to Kalshi’s sports event contracts, are not preempted by the Commodity Exchange Act (CEA), the federal statute Kalshi has leaned on in courtrooms across the country. Image source: X The denial allows the case to proceed to t