U.S. Court of Appeals rejects Kalshi and Polymarket's request to suspend state litigation

According to Bloomberg, the U.S. federal appeals court ruled that enforcement lawsuits in Nevada and Washington against prediction market platforms Kalshi and Polymarket can continue to advance in state courts, and rejected the two companies 'requests to suspend the cases pending appeal.<br /> The court stated that Kalshi and Polymarket failed to prove that the state court action would cause irreparable damage or that their claims of jurisdiction on federal issues had a high probability of success. The ruling involved Nevada enforcement actions against Kalshi and Polymarket, as well as the Washington State case against Kalshi.