Kalshi Judge Predicts Tribe Will Win Block on Sports Wagers (1)

A tribal nation is likely to succeed in blocking Kalshi from offering sports contracts on its land, a federal judge said in what appears to be the first ruling of its kind against the prediction market operator.

The Ho-Chunk Nation, a federally recognized Native American tribe, can move ahead with its lawsuit accusing the company of violating the Indian Gaming Regulatory Act, or IGRA, and has shown “a likelihood of success” in its complaint, US District Judge William M. Conley in Madison, Wisconsin, wrote in a ruling Monday.

The dispute centers on whether sports-related event contracts are gaming that can ...