Kalshi Legal Case Information

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Last Update: 11/22/2024

On November 1, 2023, Kalshi sued the U.S. Commodity Futures Trading Commission (CFTC) for rejecting its proposed contracts for partisan control of Congress.

Below is a timeline of Kalshi’s attempts to offer election markets with respective media coverage followed by the case docket. Click on the document number to view a PDF of that court document(s).

DateActionMedia Coverage
07/19/2022Kalshi files paperwork with CFTC for election marketsStar Spangled Gamblers, Protocol, SportsHandle.com, Twitter Space
03/02/2023CFTC withdraws Letter 22-08 (Letter 23-03)Legal Sports Report, Casino.org, Play USA, Globe Newswire
05/16/2023Kalshi withdraws application for Congressional control marketsBloomberg, Wall Street Journal, Odd Lots interview w/ CFTC Chairman (26:30)
06/12/2023Kalshi reintroduces Congressional control marketTwitter
06/16/2026CFTC announces 6/26 meeting to consider the commencement of a 90-day review of Kalshi congressional control contractsCoinDesk, Politico, Bloomberg, Cryptopolitan
06/23/2023CFTC cancels its 6/26 meeting and announces a 90-day review of Kalshi’s new Congressional control contractsCoinDesk, Cryptopolitan, BlockchainReporter, Better Markets, Politico, Star Spangled Gamblers, Los Angeles Review of Books, Public Citizen, American Prospect, New York Times, Coalition for Political Forecasting
09/22/2023CFTC disapproves Kalshi election contractsWall Street Journal, CoinDesk, MarketWatch, Yahoo, Bloomberg, Consensus Magazine, Protos, Econlib, WilmerHale, Bloomberg Crypto, Legal Sports Report, Star Spangled Gamblers
11/01/2023Kalshi sues CFTCWall Street Journal, Reuters, Better Markets, CoinDesk, Fox Business interview (2:32), PlayUSA, NYCasinos, POLITICO Tech podcast, Financial Times, New York Times, Al Jazeera
05/10/2024CFTC votes to begin process of prohibiting contracts on elections.Meeting recording, Wall Street Journal, Bloomberg, Seeking Alpha, Reuters, Politico, US Bets, Action Network, Maximum Truth, CoinDesk, CNBC Benham Interview, SBC Americas, Bonus.com, Bloomberg Kalshi CEO interview, Astral Codex Ten, Maximum Truth, NYT, Better Markets, FT, Vox, LA Times Op-Ed, Boston Globe
05/30/2024Oral arguments heard in DC District CourtLaw360 (Paywall)
06/28/2024U.S. Supreme Court overturns Chevron doctrine.Law360 (Paywall)
08/29/2024CFTC approves “Kalshi Klear,” the designated clearing organization (DCO) of Kalshi.Law360 (Paywall), WSJ (Paywall)
09/06/2024DC District Court rules in favor of Kalshi’s motion for a summary judgement and vacates CFTC’s 9/22/2023 order prohibiting Kalshi congressional control contracts. CFTC requests a stay.CoinDesk, CoinDesk, CoinDesk, CoinDesk, Law360 (Paywall), Bloomberg Law, Binance, CoinNewsDesk, CoinTelegraph, CoinPedia, WSJ (Paywall), Politico Pro (Paywall), Better Markets, Bezinga, ZeroHedge, Casino.org, AP
09/09/2024CFTC votes to authorize it to appeal.Pham Dissent, Next.io, CoinDesk
09/12/2024Judge Cobb releases opinion. DC District Court holds hearing to consider CFTC motion to stay decision. Judge rejects CFTC motion to stay and lifts administrative stay. Two Kalshi election contracts begin trading.CoinDesk, CoinDesk, Politico Pro (Paywall), The Block, Prediction News, Better Markets, AP, Reuters, Cryptonews, Blockonomi, The Hill, CoinDesk, Decrypt, Washington Times, CoinDesk, Axios, CNN, Unchained, CoinTelegraph, The Block, National Law Review
09/12/2024CFTC appeals to United States Court of Appeals for District of Columbia Circuit, which stays District Court order. Kalshi election contracts are paused after 65,000 shares are traded.Bloomberg, Gambling News, Bonus.com, CoinGape, BNN Bloomberg, Newsweek, Covers
09/19/2024Hearing for oral arguments in CFTC’s appeal to Circuit Court. YouTube, CoinDesk, Prediction News, Better Markets, Capitol Account (Paywall), The Block,
10/02/2024Circuit Court denies CFTC motion for stay and dissolves administrative stay on District Court order.Prediction News, Bloomberg, The Block, CNBC, UnChained, Reuters, AP, CNN, Stanford Review, Senator Merkley (OR), Washington Post (Paywall), New York, New York Post, The Hill, Covers, Bankless, Politico, FT, Axios, The Block, Decrypt, Casino.org, WSJ (Paywall), iGB, DailyCoin, Better Markets, Washington Post, Lowenstein Sandler
10/02/2024Kalshi self-certifies Presidential election contracts. ForecastEx quickly follows with markets on Senate control, House control, Senate races, and the Presidential race.CoinDesk, CoinDesk, Politico, Kalshi
10/07/2024Kalshi announces 29 more U.S. election markets.CoinTelegraph, Axios,
10/21/2024Kalshi self-certifies contracts for elections in Australia, Canada, Ecuador, and Ireland. CoinTelegraph
10/22/2024CFTC Chairman Rostin Behnam tells Bloomberg TV that CFTC will monitor election markets while appealing District court decision. He states that the CFTC still believes they are illegal but calls for congressional action.Bloomberg, Techreport, The Block, Casino.org, Covers

District Court case information

Case #: 1:23-cv-03257-JMC
U.S. District Court
District of Columbia (Washington, DC)
Judge Jia M. Cobb

Date#Docket TextMedia Coverage
11/01/20231COMPLAINT against COMMODITY FUTURES TRADING COMMISSION ( Filing fee $ 402 receipt number ADCDC-10461631) filed by KALSHIEX LLC. (Attachments: # 1 Exhibit A – Order, # 2 Civil Cover Sheet Civil Cover Sheet, # 3 Summons Summons – USAO, # 4 Summons Summons – CFTC, # 5 Summons Summons – Garland)(Roth, Jacob) (Attachment 2 replaced on 11/1/2023) (zljn). (Entered: 11/01/2023)Wall Street Journal, Reuters, Better Markets, CoinDesk, Fox Business interview (2:32), PlayUSA, NYCasinos, POLITICO Tech podcast, New York Times, Twitter
11/01/20232LCvR 26.1 CERTIFICATE OF DISCLOSURE of Corporate Affiliations and Financial Interests by KALSHIEX LLC (Roth, Jacob) (Entered: 11/01/2023)Jones Day
11/01/20233MOTION for Leave to Appear Pro Hac Vice :Attorney Name- Samuel V. Lioi, Filing fee $ 100, receipt number ADCDC-10462151. Fee Status: Fee Paid. by KALSHIEX LLC. (Attachments: # 1 Declaration, # 2 Exhibit Certificate of Good Standing, # 3 Text of Proposed Order)(Roth, Jacob) (Entered: 11/01/2023)
11/01/20234MOTION for Leave to Appear Pro Hac Vice :Attorney Name- Amanda K. Rice, Filing fee $ 100, receipt number ADCDC-10462356. Fee Status: Fee Paid. by KALSHIEX LLC. (Attachments: # 1 Declaration, # 2 Certificate of Good Standing, # 3 Text of Proposed Order)(Roth, Jacob) (Entered: 11/01/2023)
11/01/2023Case Assigned to Judge Jia M. Cobb. (zljn) (Entered: 11/01/2023)
11/01/20235SUMMONS (3) Issued Electronically as to COMMODITY FUTURES TRADING COMMISSION, U.S. Attorney and U.S. Attorney General (Attachments: # 1  Notice and Consent)(zljn) (Entered: 11/01/2023)
11/06/20236NOTICE of Appearance by Raagnee Beri on behalf of COMMODITY FUTURES TRADING COMMISSION (Beri, Raagnee) (Entered: 11/06/2023)
11/06/20237NOTICE of Appearance by Conor Barry Daly on behalf of COMMODITY FUTURES TRADING COMMISSION (Daly, Conor) (Main Document 7 replaced on 11/7/2023) (znmw). (Entered: 11/06/2023)
11/06/2023MINUTE ORDER granting 3 Motion for Leave to Appear Pro Hac Vice: Counsel should register for e-filing via PACER and file a notice of appearance pursuant to LCvR 83.6(a) Click for instructions. Signed by Judge Jia M. Cobb on November 6, 2023. (lcjmc3) (Entered: 11/06/2023)
11/06/2023MINUTE ORDER granting 4 Motion for Leave to Appear Pro Hac Vice: Counsel should register for e-filing via PACER and file a notice of appearance pursuant to LCvR 83.6(a) Click for instructions. Signed by Judge Jia M. Cobb on November 6, 2023. (lcjmc3) (Entered: 11/06/2023)
11/07/20238NOTICE of Appearance by Sam Lioi on behalf of KALSHIEX LLC (Lioi, Sam) (Main Document 8 replaced on 11/8/2023) (znmw). (Entered: 11/07/2023)
11/07/20239NOTICE of Appearance by Amanda Kelly Rice on behalf of KALSHIEX LLC (Rice, Amanda) (Main Document 9 replaced on 11/8/2023) (znmw). (Entered: 11/07/2023)
11/09/202310NOTICE of Appearance by John Henry Thompson on behalf of KALSHIEX LLC (Thompson, John Henry) (Entered: 11/09/2023)
11/13/202311RETURN OF SERVICE/AFFIDAVIT of Summons and Complaint Executed as to the United States Attorney. Date of Service Upon United States Attorney on 11/6/2023. Answer due for ALL FEDERAL DEFENDANTS by 1/5/2024. (Roth, Jacob) (Entered: 11/13/2023)
11/21/202312RETURN OF SERVICE/AFFIDAVIT of Summons and Complaint Executed on United States Attorney General. Date of Service Upon United States Attorney General 11/14/2023. (Roth, Jacob) (Entered: 11/21/2023)
11/21/202313RETURN OF SERVICE/AFFIDAVIT of Summons and Complaint Executed. COMMODITY FUTURES TRADING COMMISSION served on 11/13/2023 (Roth, Jacob) (Entered: 11/21/2023)
11/28/202314Joint MOTION for Scheduling Order and For Other Relief by COMMODITY FUTURES TRADING COMMISSION. (Attachments: # 1 Text of Proposed Order Granting Joint Motion For Entry of Scheduling Order and For Other Relief)(Daly, Conor) (Entered: 11/28/2023)
11/30/202315ORDER granting 14 Motion for Scheduling Order: As agreed to in their Joint Motion, the Parties are ORDERED to adhere to the following deadlines: Plaintiff will file a motion for summary judgment by January 25, 2024. Defendant will file a cross-motion for summary judgment and a response in opposition to Plaintiff’s motion for summary judgment by February 26, 2024. Plaintiff will file a reply in support of its motion for summary judgment and in opposition to the Defendant’s cross-motion for summary judgment by March 27, 2024. Defendant will file a reply in support of its cross-motion for summary judgment by April 10, 2024. Additionally, the Defendant is no longer required to file an answer and the January 5, 2024, deadline to do so is STRICKEN. See attached document for further details and additional deadlines. Signed by Judge Jia M. Cobb on November 30, 2023. (lcjmc3) (Entered: 11/30/2023)
01/16/202416NOTICE of Filing of Certified List of Contents of the Administrative Record by COMMODITY FUTURES TRADING COMMISSION (Attachments: # 1 Exhibit)(Beri, Raagnee) (Entered: 01/16/2024)
01/25/202417MOTION for Summary Judgment by KALSHIEX LLC. (Attachments: # 1 Memorandum in Support, # 2 Text of Proposed Order)(Roth, Jacob) (Entered: 01/25/2024)Better Markets
01/31/202418Unopposed MOTION for Leave to File Brief as Amicus Curiae by Jeremy D. Weinstein. (Attachments: # 1 Exhibit Proposed Brief, # 2 Text of Proposed Order)(Mills, Christopher) (Entered: 01/31/2024)
01/31/202419NOTICE of Appearance by Christopher Ernest Mills on behalf of Jeremy D. Weinstein (Mills, Christopher) (Entered: 01/31/2024)
02/01/202420MOTION for Leave to File An Amicus Brief In Support of Plaintiff’s Motion for Summary Judgment by PARADIGM OPERATIONS LP. (Attachments: # 1 Exhibit Brief in Support of Plaintiff’s Motion for Summary Judgment, # 2 Text of Proposed Order Proposed Order)(Keller, Scott) (Entered: 02/01/2024)CoinDesk
02/01/202421Unopposed MOTION for Leave to File Brief as Amicus Curiae in Support of Plaintiff’s Motion for Summary Judgment by JOSEPH A. GRUNDFEST. (Attachments: # 1 Proposed Brief of Amicus Curiae Professor Joseph A. Grundfest in Support of Plaintiff, # 2 Proposed Order)(Unikowsky, Adam) (Entered: 02/01/2024)
02/02/2024MINUTE ORDER granting 18 Motion for Leave to File: Upon consideration of the motion, leave to file is GRANTED. It is ORDERED that the proposed brief accompanying the motion be filed. Signed by Judge Jia M. Cobb on February 2, 2024. (lcjmc3) (Entered: 02/02/2024)
02/02/2024MINUTE ORDER granting 20 Motion for Leave to File: Upon consideration of the motion, leave to file is GRANTED. It is ORDERED that the proposed brief accompanying the motion be filed. Signed by Judge Jia M. Cobb on February 2, 2024. (lcjmc3) (Entered: 02/02/2024)
02/02/2024MINUTE ORDER granting 21 Motion for Leave to File: Upon consideration of the motion, leave to file is GRANTED. It is ORDERED that the proposed brief accompanying the motion be filed. Signed by Judge Jia M. Cobb on February 2, 2024. (lcjmc3) (Entered: 02/02/2024)
02/02/202422Unopposed MOTION for Leave to File Amicus Curiae Brief by ARISTOTLE INTERNATIONAL INC.. (Attachments: # 1 BRIEF OF AMICUS CURIAE ARISTOTLE INTERNATIONAL, INC., IN SUPPORT OF PLAINTIFFS MOTION FOR SUMMARY JUDGEMENT, # 2 (PROPOSED) ORDER GRANTING ARISTOTLE INTERNATIONAL, INC.S MOTION FOR LEAVE TO FILE AMICUS CURIAE BRIEF)(Edney, Michael) (Entered: 02/02/2024)
02/02/202423AMICUS BRIEF by JEREMY D. WEINSTEIN. (zdp) (Entered: 02/06/2024)
02/02/202424AMICUS BRIEF by PARADIGM OPERATIONS LP. (zdp) (Entered: 02/06/2024)Yahoo
02/02/202425AMICUS BRIEF by JOSEPH A. GRUNDFEST. (zdp) (Entered: 02/06/2024)
02/05/2024MINUTE ORDER granting 22 Motion for Leave to File: Upon consideration of the motion, leave to file is GRANTED. It is ORDERED that the proposed brief accompanying the motion be filed. Signed by Judge Jia M. Cobb on February 5, 2024. (lcjmc3) (Entered: 02/05/2024)
02/05/202426AMICUS BRIEF by ARISTOTLE INTERNATIONAL INC.. (zdp) (Entered: 02/06/2024)
02/07/202427NOTICE of Appearance by Margaret P. Aisenbrey on behalf of COMMODITY FUTURES TRADING COMMISSION (Aisenbrey, Margaret) (Entered: 02/07/2024)
02/21/202428Unopposed MOTION for Leave to File Excess Pages by COMMODITY FUTURES TRADING COMMISSION. (Attachments: # 1 Text of Proposed Order)(Aisenbrey, Margaret) (Entered: 02/21/2024)
02/21/2024MINUTE ORDER granting 28 unopposed motion for leave to file excess pages. It is hereby ORDERED that the Defendant’s motion may exceed the page limit set forth in Local Civil Rule 7(e) by 10 additional pages. Signed by Judge Jia M. Cobb on February 21, 2024. (lcjmc3) (Entered: 02/21/2024)
02/22/202429NOTICE of Appearance by Anne Whitford Stukes on behalf of COMMODITY FUTURES TRADING COMMISSION (Stukes, Anne) (Entered: 02/22/2024)
02/26/202430Cross MOTION for Summary Judgment and Opposition to Plaintiff Kalshi’s Motion for Summary Judgment by COMMODITY FUTURES TRADING COMMISSION. (Attachments: # 1 Proposed Order)(Beri, Raagnee) (Entered: 02/26/2024)
02/26/202431Memorandum in opposition to re 17 Motion for Summary Judgment and Cross Motion for Summary Judgment filed by COMMODITY FUTURES TRADING COMMISSION. (Attachments: # 1 Proposed Order)(Beri, Raagnee) (Entered: 02/26/2024)
03/04/202432NOTICE of Appearance by Stephen W. Hall on behalf of BETTER MARKETS, INC. (Hall, Stephen) (Entered: 03/04/2024)
03/04/202433Unopposed MOTION for Leave to File Amicus Curiae Brief in Support of Defendant Commodity Futures Trading Commission by BETTER MARKETS, INC.. (Attachments: # 1 Exhibit Brief of Better Markets, Inc., as Amicus Curiae in Support of Defendant Commodity Futures Trading Commission, # 2 Text of Proposed Order Proposed Order)(Hall, Stephen) (Entered: 03/04/2024)
03/04/2024MINUTE ORDER granting 33 Motion for Leave to File: Upon consideration of the motion, leave to file is GRANTED. It is ORDERED that the proposed brief accompanying the motion be filed. Signed by Judge Jia M. Cobb on March 4, 2024. (lcjmc3) (Entered: 03/04/2024)
03/04/202434AMICUS BRIEF by BETTER MARKETS, INC.. (zdp) (Entered: 03/06/2024)Better Markets
03/27/202435Memorandum in opposition to re 30 Motion for Summary Judgment filed by KALSHIEX LLC. (Attachments: # 1 Text of Proposed Order)(Roth, Jacob) (Entered: 03/27/2024)
03/27/202436REPLY to opposition to motion re 17 MOTION for Summary Judgment filed by KALSHIEX LLC. (Roth, Jacob) (Entered: 03/27/2024)
04/10/202437REPLY to opposition to motion re 30 Cross MOTION for Summary Judgment and Opposition to Plaintiff Kalshi’s Motion for Summary Judgment filed by COMMODITY FUTURES TRADING COMMISSION. (Beri, Raagnee) (Entered: 04/10/2024)
04/12/2024MINUTE ORDER: The Parties are ORDERED to appear for oral argument on Plaintiff’s motion for summary judgment 17 and Defendant’s cross motion for summary judgment 30 on May 30, 2024, at 1:00 PM in Courtroom 3- In Person before Judge Jia M. Cobb. Signed by Judge Jia M. Cobb on April 12, 2024. (lcjmc3) (Entered: 04/12/2024)
04/24/202438JOINT APPENDIX by KALSHIEX LLC. (Attachments: # 1 Appendix Volume 1, # 2 Appendix Volume 2, # 3 Appendix Volume 3, # 4 Appendix Volume 4, # 5 Appendix Volume 5)(Roth, Jacob) (Entered: 04/24/2024)
5/30/2024Minute Entry for Motion Hearing held 5/30/24 before Judge Jia M. Cobb: Oral arguments heard and 17 MOTION for Summary Judgment and 30 Cross MOTION for Summary Judgment, taken under advisement. (Court Reporter Stacy Johns) (zgf) (Entered: 05/31/2024)Law360 (Paywall)
5/31/202439NOTICE of Appearance by Joshua Brooks Sterling on behalf of KALSHIEX LLC (Sterling, Joshua) (Main Document 39 replaced on 5/31/2024) (zdp). (Entered: 05/31/2024)
06/04/202440TRANSCRIPT OF MOTION HEARING before Judge Jia M. Cobb held on May 30, 2024. Page Numbers: 1-91. Date of Issuance: June 4, 2024. Court Reporter: Stacy Johns. Email address: Stacy_Johns@dcd.uscourts.gov. Transcripts may be ordered by submitting the Transcript Order Form

For the first 90 days after this filing date, the transcript may be viewed at the courthouse at a public terminal or purchased from the court reporter referenced above. After 90 days, the transcript may be accessed via PACER. Other transcript formats, (multi-page, condensed, CD or ASCII) may be purchased from the court reporter.

NOTICE RE REDACTION OF TRANSCRIPTS: The parties have twenty-one days to file with the court and the court reporter any request to redact personal identifiers from this transcript. If no such requests are filed, the transcript will be made available to the public via PACER without redaction after 90 days. The policy, which includes the five personal identifiers specifically covered, is located on our website at www.dcd.uscourts.gov.

Redaction Request due 6/25/2024. Redacted Transcript Deadline set for 7/5/2024. Release of Transcript Restriction set for 9/2/2024.(Johns, Stacy) (Entered: 06/04/2024)
06/10/202441MOTION for Leave to File for Leave to File Supplemental Memorandum Responding to New Issues Raised at May 30, 2024 Hearing by COMMODITY FUTURES TRADING COMMISSION. (Attachments: # 1 Text of Proposed Order Supplemental Memorandum, # 2 Exhibit Ex. to Memorandum – Transcript Excerpts, # 3 Text of Proposed Order Proposed Order Granting Motion to File Supplemental Memorandum)(Beri, Raagnee) (Entered: 06/10/2024)
06/11/202442RESPONSE re 41 MOTION for Leave to File for Leave to File Supplemental Memorandum Responding to New Issues Raised at May 30, 2024 Hearing filed by KALSHIEX LLC. (Attachments: # 1 Appendix Excerpted Hearing Transcript)(Roth, Jacob) (Entered: 06/11/2024)
06/28/202443NOTICE OF WITHDRAWAL OF APPEARANCE as to KALSHIEX LLC. Attorney Joshua Brooks Sterling terminated. (Sterling, Joshua) (Entered: 06/28/2024)
06/28/202444NOTICE OF SUPPLEMENTAL AUTHORITY by KALSHIEX LLC (Attachments: # 1 Exhibit Opinion in Loper Bright Enterprises v. Raimondo)(Roth, Jacob) (Entered: 06/28/2024)
07/08/202445NOTICE of Appearance by Joshua Brooks Sterling on behalf of KALSHIEX LLC (Sterling, Joshua) (Entered: 07/08/2024)
08/20/2024MINUTE ORDER granting 41 Motion for Leave to File: Plaintiff has withdrawn its objection to Defendant’s motion. Accordingly, the motion is GRANTED. The Clerk of Court is directed to docket Ex. 1 and 2 attached to 41 Defendant’s motion for leave to file as a supplemental memorandum and exhibit thereto in support of its 30 cross motion for summary judgment and opposition to Plaintiff’s motion for summary judgment. Signed by Judge Jia M. Cobb on August 20, 2024. (lcjmc3) (Entered: 08/20/2024)
08/20/202446SUPPLEMENTAL MEMORANDUM to re 30 Cross MOTION for Summary Judgment and Opposition to Plaintiff Kalshi’s Motion for Summary Judgment filed by COMMODITY FUTURES TRADING COMMISSION. (Attachments: # 1 Exhibit)(zdp) (Entered: 08/23/2024)
09/06/202447ORDER granting 17 Plaintiff’s Motion for Summary Judgment and denying 30 Defendant’s Cross-Motion for Summary Judgment: See document for details. Signed by Judge Jia M. Cobb on September 6, 2024. (lcjmc3) (Entered: 09/06/2024)CoinDesk
09/06/202448Emergency MOTION to Stay re 47 Order on Motion for Summary Judgment, by COMMODITY FUTURES TRADING COMMISSION. (Attachments: # 1 Text of Proposed Order)(Stukes, Anne) (Entered: 09/06/2024)CoinDesk, CoinTelegraph
09/08/202449Memorandum in opposition to re 48 Motion to Stay filed by KALSHIEX LLC. (Attachments: # 1 Text of Proposed Order)(Roth, Jacob) (Entered: 09/08/2024)CoinDesk
09/09/202450REPLY to opposition to motion re 48 Emergency MOTION to Stay re 47 Order on Motion for Summary Judgment, filed by COMMODITY FUTURES TRADING COMMISSION. (Stukes, Anne) (Entered: 09/09/2024)
09/09/2024MINUTE ORDER Setting Hearing: The Court will hold a hearing in this matter on Thursday, September 12, 2024, at 10:30 AM. The hearing will be on the record before Judge Jia M. Cobb and conducted via Zoom. The Court’s Deputy Clerk will provide the information necessary to access the conference. The Court hereby ORDERS a temporary administrative stay of its 47 order granting Plaintiff’s motion for summary judgment and denying Defendant’s cross-motion for summary judgment until the conclusion of Thursday’s hearing to allow the Court time to consider the Parties’ arguments regarding Defendant’s pending motion. See, e.g., June Med. Servs., L.L.C. v. Gee, 139 S. Ct. 661 (2019) (granting an administrative stay to give the court “time to review [the] filings”); Cobell v. Norton, No. 03-5262, 2004 WL 603456, at *1 (D.C. Cir. Mar. 24, 2004) (granting a temporary stay “to give the court sufficient opportunity to consider the merits of the motion for a stay pending appeal”). This Order does not represent a ruling on the merits of Defendant’s motion for a stay but instead grants a temporary administrative stay of three days until the conclusion of the upcoming hearing. Signed by Judge Jia M. Cobb on September 9, 2024. (lcjmc1) (Entered: 09/09/2024)CoinDesk, CoinDesk
09/11/2024MINUTE ORDER: Members of the public who wish to listen to the motions hearing set in this matter for September 12, 2024 at 10:30 AM may dial in using the Court’s toll-free public access line, found on the Court’s webpage: https://www.dcd.uscourts.gov/public-access-teleconference-information. The public access line will be in listen-only mode. Signed by Judge Jia M. Cobb on September 11, 2024. (lcjmc3) (Entered: 09/11/2024)
09/12/202451MEMORANDUM OPINION re 17 Plaintiff’s Motion for Summary Judgment and 30 Defendant’s Cross Motion for Summary Judgment: See document for details. Signed by Judge Jia M. Cobb on September 12, 2024. (lcjmc3) (Entered: 09/12/2024)Reuters, BakerHostetler
09/12/2024Minute Entry for video proceeding held on 9/12/2024 before Judge Jia M. Cobb: Motion Hearing re 48 Emergency MOTION to Stay. For the reason stated on the record, 48 Motion to Stay is DENIED. Oral motion for stay pending appeal; heard and DENIED, for the reasons also stated on the record. (Court Reporter Stacy Johns.) (zed) (Entered: 09/12/2024)CoinDesk, CoinDesk, The Hill, CoinDesk, Axios, CoinTelegraph, The Block, National Law Review, CoinDesk, Bloomberg, Bankless
09/12/202452NOTICE OF APPEAL TO DC CIRCUIT COURT as to 47 Order on Motion for Summary Judgment, by COMMODITY FUTURES TRADING COMMISSION. Fee Status: No Fee Paid. Parties have been notified. (Beri, Raagnee) (Entered: 09/12/2024)
09/12/202453Transmission of the Notice of Appeal, Order Appealed (Memorandum Opinion), and Docket Sheet to US Court of Appeals. The fee remains to be paid and another notice will be transmitted when the fee has been paid in the District Court or motion to proceed In Forma Pauperis has been decided re 52 Notice of Appeal to DC Circuit Court. (zdp) (Entered: 09/12/2024)
09/12/202454TRANSCRIPT OF MOTIONS HEARING before Judge Jia M. Cobb held on September 12, 2024. Page Numbers: 1-43. Date of Issuance: September 12, 2024. Court Reporter: Stacy Johns. Email address: Stacy_Johns@dcd.uscourts.gov. Transcripts may be ordered by submitting the Transcript Order Form

For the first 90 days after this filing date, the transcript may be viewed at the courthouse at a public terminal or purchased from the court reporter referenced above. After 90 days, the transcript may be accessed via PACER. Other transcript formats, (multi-page, condensed, CD or ASCII) may be purchased from the court reporter.NOTICE RE REDACTION OF TRANSCRIPTS: The parties have twenty-one days to file with the court and the court reporter any request to redact personal identifiers from this transcript. If no such requests are filed, the transcript will be made available to the public via PACER without redaction after 90 days. The policy, which includes the five personal identifiers specifically covered, is located on our website at www.dcd.uscourts.gov.

Redaction Request due 10/3/2024. Redacted Transcript Deadline set for 10/13/2024. Release of Transcript Restriction set for 12/11/2024.(Johns, Stacy) (Entered: 09/12/2024)
09/12/2024USCA Case Number 24-5205 for 52 Notice of Appeal to DC Circuit Court filed by COMMODITY FUTURES TRADING COMMISSION. (zdp) (Entered: 09/13/2024)

Circuit Court case information

Court of Appeals Docket #: 24-5205
United States Court of Appeals for District of Columbia Circuit
Judges Millett, Pillard, and Pan

DateDocket TextMedia Coverage
09/12/2024US CIVIL CASE docketed. [24-5205] [Entered: 09/12/2024 12:42 PM]
09/12/2024NOTICE OF APPEAL [2074424] seeking review of a decision by the U.S. District Court in 1:23-cv-03257-JMC filed by CFTC. Appeal assigned USCA Case Number: 24-5205. [24-5205] [Entered: 09/12/2024 12:43 PM]CoinDesk,
09/12/2024EMERGENCY MOTION [2074493] to stay underlying order pending appeal filed by CFTC (Service Date: 09/12/2024 by CM/ECF NDA) Length Certification: I hereby certify this document complies with the type-volume limit of Fed. R. App. P. 27(d)(2)(A) because, excluding the parts of the brief exempted by Fed. R. App. P. 32(f), it contains 5,102 words, as counted by Microsoft Word.. [24-5205] (Stukes, Anne) [Entered: 09/12/2024 05:06 PM]
09/12/2024LETTER [2074495] Opposing Request for Temporary Administrative Stay filed by Kalshiex LLC [Service Date: 09/12/2024 ] [24-5205] (Roth, Jacob) [Entered: 09/12/2024 05:17 PM]
09/12/2024ENTRY OF APPEARANCE [2074499] filed by John Henry Thompson on behalf of Appellee Kalshiex LLC. [24-5205] (Thompson, John Henry) [Entered: 09/12/2024 06:01 PM]
09/12/2024PER CURIAM ORDER [2074504] filed considering motion for stay pending appeal [2074493-2], it is ORDERED that the district court’s September 6, 2024 order be administratively stayed pending further order of the court. It is FURTHER ORDERED that appellee file a response to the emergency motion by 6:00 p.m. on Friday, September 13, 2024. Any reply is due by 6:00 p.m. on Saturday, September 14, 2024. SEE ORDER FOR DETAILS. Before Judges: Millett, Pillard and Pan. [24-5205] [Entered: 09/12/2024 08:25 PM]CoinGape, Newsweek, Covers, Moneycheck, AP, WSJ, NYT, BeInCrypto, Gambling News, SBC Americas, Prediction News,
09/13/2024RESPONSE IN OPPOSITION [2074739] to motion for stay pending appeal [2074493-2] filed by Kalshiex LLC [Service Date: 09/13/2024 by CM/ECF NDA] Length Certification: I hereby certify that the foregoing brief complies with the type-volume limitation of Fed. R. App. P. 27(d)(2) because it contains 5133 words, excluding the parts of the brief exempted by Fed. R. App. P. 32(f).. [24-5205] (Roth, Jacob) [Entered: 09/13/2024 05:33 PM]CoinDesk
09/14/2024REPLY [2074755] filed by CFTC to response [2074493-2] [Service Date: 09/14/2024 by CM/ECF NDA] Length Certification: I hereby certify this document complies with the type-volume limit of Fed. R. App. P. 27(d)(2)(A) because, excluding the parts of the brief exempted by Fed. R. App. P. 32(f), it contains 2,595 words, as counted by Microsoft Word.. [24-5205] (Stukes, Anne) [Entered: 09/14/2024 04:55 PM]CoinDesk, The Block, AP, Casino.org
09/16/2024PER CURIAM ORDER [2074792] filed scheduling oral argument on Thursday, 09/19/2024 at 2:00 p.m., allocating oral argument time as follows: Appellant – 15 Minutes, Appellee – 15 Minutes. One counsel per side to argue; directing party to file Form 72 notice of arguing attorney by 09/16/2024. Before Judges: Millett, Pillard and Pan. [24-5205] [Entered: 09/16/2024 10:48 AM]WilmerHale, Prediction News, Legal Sports Report, iGaming Business, Covers
09/16/2024FORM 72 submitted by arguing attorney, Yaakov M. Roth, on behalf of Appellee KalshiEX LLC (For Internal Use Only: Form is restricted to protect counsel’s personal contact information). [24-5205] (Roth, Jacob) [Entered: 09/16/2024 02:01 PM]Yaakov M. Roth
09/16/2024ENTRY OF APPEARANCE [2074875] filed by Robert A. Schwartz on behalf of Appellant CFTC. [24-5205] (Schwartz, Robert) [Entered: 09/16/2024 02:21 PM]Rob Schwartz
09/16/2024FORM 72 submitted by arguing attorney, Robert A. Schwartz, on behalf of Appellant CFTC (For Internal Use Only: Form is restricted to protect counsel’s personal contact information). [24-5205] (Schwartz, Robert) [Entered: 09/16/2024 02:22 PM]
09/17/2024ENTRY OF APPEARANCE [2075140] filed by Joshua Brooks Sterling on behalf of Appellee KalshiEX LLC. [24-5205] (Sterling, Joshua) [Entered: 09/17/2024 02:12 PM]Joshua B. Sterling
09/18/2024LETTER [2075394] concerning oral argument format filed by CFTC [Service Date: 09/18/2024 ] [24-5205] (Stukes, Anne) [Entered: 09/18/2024 03:22 PM]
09/19/2024ORAL ARGUMENT HELD before Judges Millett, Pillard and Pan. [24-5205] [Entered: 09/19/2024 04:38 PM]YouTube, Dentons
09/19/2024ENTRY OF APPEARANCE [2075796] filed by Amanda K. Rice on behalf of Appellee KalshiEX LLC. [24-5205] (Rice, Amanda) [Entered: 09/19/2024 04:43 PM]Amanda K. Rice
10/01/2024TRANSCRIPT [2077657] of oral argument (For Internal Use Only: Transcript is only available to court staff). [24-5205] [Entered: 10/01/2024 02:27 PM]
10/02/2024PER CURIAM ORDER [2077786] filed, that the administrative stay be dissolved. It is FURTHER ORDERED that the motion for stay [2074493-2] be denied without prejudice to renewal should substantiating evidence of irreparable harm arise, in accordance with the opinion issued herein this date. Before Judges: Millett, Pillard and Pan. [24-5205] [Entered: 10/02/2024 10:02 AM]CoinDesk, Prediction News, Bloomberg, The Block, CNBC, UnChained, Reuters, AP, CNN, Stanford Review, Senator Merkley (OR), Washington Post (Paywall), New York, New York Post, The Hill, Covers, Lowenstein Sandler
10/02/2024OPINION [2077790] filed (Pages: 15) for the Court by Judge Millett. [24-5205] [Entered: 10/02/2024 10:06 AM]
10/02/2024ENTRY OF APPEARANCE [2077895] filed by Raagnee Beri and co-counsel Raagnee Beri on behalf of Appellant CFTC. [24-5205] (Beri, Raagnee) [Entered: 10/02/2024 12:54 PM]Raagnee Beri
10/02/2024ENTRY OF APPEARANCE [2077902] filed by Margaret Aisenbrey on behalf of Appellant CFTC. [24-5205] (Aisenbrey, Margaret) [Entered: 10/02/2024 01:00 PM]Margaret Aisenbrey
10/02/2024MOTION [2078007] to expedite case filed by CFTC (Service Date: 10/02/2024 by CM/ECF NDA) Length Certification: 581 words, as counted by the word processing software Microsoft Word.. [24-5205] (Beri, Raagnee) [Entered: 10/02/2024 07:17 PM]Reuters,
10/03/2024PER CURIAM ORDER [2078185] filed ORDERED that appellee file a response to the motion by 4:00 p.m. on Monday, October 7, 2024. Any reply is due by 4:00 p.m. on Tuesday, October 8, 2024. Before Judges: Millett, Pillard and Pan. [24-5205] [Entered: 10/03/2024 04:46 PM]
10/04/2024ENTRY OF APPEARANCE [2078381] filed by Samuel V. Lioi on behalf of Appellee KalshiEX LLC. [24-5205] (Lioi, Samuel) [Entered: 10/04/2024 02:41 PM]Samuel Lioi
10/07/2024RESPONSE IN OPPOSITION [2078658] to motion [2078007-2] filed by KalshiEX LLC [Service Date: 10/07/2024 by CM/ECF NDA] Length Certification: I hereby certify that the foregoing document complies with the type-volume limitation of Fed. R. App. P. 27(d)(2) because it contains 658 words, excluding the parts of the brief exempted by Fed. R. App. P. 32(f).. [24-5205] (Roth, Jacob) [Entered: 10/07/2024 03:03 PM]
10/08/2024REPLY [2078945] filed by CFTC to response [2078658-2] [Service Date: 10/08/2024 by CM/ECF NDA] Length Certification: 1590 words. [24-5205] (Beri, Raagnee) [Entered: 10/08/2024 02:19 PM]CNBC
10/11/2024PER CURIAM ORDER [2079666] filed ORDERED that the following briefing schedule will apply in this case: APPELLANT Brief and APPENDIX both due 10/16/2024. APPELLEE Brief due on 11/15/2024. APPELLANT Reply Brief due 12/06/2024 (SEE ORDER FOR MORE DETAILS). Before Judges: Millett, Pillard and Pan. [24-5205] [Entered: 10/11/2024 05:40 PM]CNBC, Casino.org,
10/15/2024LETTER [2079727] advising of arguing counsel’s availability for oral argument filed by KalshiEX LLC [Service Date: 10/15/2024 ] [24-5205] (Roth, Jacob) [Entered: 10/15/2024 08:39 AM]
10/16/2024APPELLANT BRIEF [2080035] filed by CFTC [Service Date: 10/16/2024 ] Length of Brief: 12,984 Words. [24-5205] (Aisenbrey, Margaret) [Entered: 10/16/2024 07:45 AM]The Block, CoinDesk,
10/16/2024JOINT APPENDIX [2080038] filed by CFTC [Volumes: 2] [Service Date: 10/16/2024 ] [24-5205] (Aisenbrey, Margaret) [Entered: 10/16/2024 07:54 AM]
10/23/2025CONSENT AMICUS FOR APPELLANT FINAL BRIEF [2081637] filed by Better Markets, Inc. [Service Date: 10/23/2024 ] Length of Brief: 4,498 Words. [24-5205] (Hall, Stephen) [Entered: 10/23/2024 04:31 PM]Better Markets, CoinDesk,
10/23/2025NOTICE [2081647] of intention to participate as amicus curiae [Disclosure Listing: Previously Filed] filed by Better Markets, Inc. [Service Date: 10/23/2024 ] [24-5205]–[Edited 10/24/2024 by LMF] (Hall, Stephen) [Entered: 10/23/2024 05:07 PM]
11/08/2024LETTER [2084242] advising of arguing counsel’s availability for oral argument filed by CFTC [Service Date: 11/08/2024 ] [24-5205] (Beri, Raagnee) [Entered: 11/08/2024 03:08 PM]
11/15/2024APPELLEE BRIEF [2085055] filed by KalshiEX LLC [Service Date: 11/15/2024 ] Length of Brief: I hereby certify that the foregoing brief complies with the type-volume limitation of Fed. R. App. P. 32(a)(7)(B) because it contains 12,185 words, excluding the parts of the brief exempted by Fed. R. App. P. 32(f).. [24-5205] (Roth, Jacob) [Entered: 11/15/2024 11:41 AM]Law360 (Paywall), CoinDesk, Reuters,
11/22/2024CONSENT AMICUS FOR APPELLEE BRIEF [2086139] filed by Jeremy D. Weinstein [Service Date: 11/22/2024 ] Length of Brief: 1,411 words. [24-5205] (Mills, Christopher) [Entered: 11/22/2024 09:11 AM]
11/22/2024NOTICE [2086256] of intention to participate as amicus curiae [Disclosure Listing: Not Applicable to this Party] filed by Professor Joseph A. Grundfest [Service Date: 11/22/2024 ] [24-5205] (Unikowsky, Adam) [Entered: 11/22/2024 01:00 PM]
11/22/2024NOTICE [2086324] of intention to participate as amicus curiae [Disclosure Listing: Attached] filed by Paradigm Operations LP [Service Date: 11/22/2024 ] [24-5205] (Keller, Scott) [Entered: 11/22/2024 03:07 PM]
11/22/2024CONSENT AMICUS FOR APPELLEE BRIEF [2086326] filed by Paradigm Operations LP [Service Date: 11/22/2024 ] Length of Brief: 2,705 words. [24-5205] (Keller, Scott) [Entered: 11/22/2024 03:12 PM]
11/22/2024AMICUS FOR APPELLANT FINAL BRIEF [2086361] filed by ForecastEx, LLC [Service Date: 11/22/2024] Length of Brief: 5,764. [24-5205]–[Edited 11/22/2024 by SHA] (Davis, Daniel) [Entered: 11/22/2024 04:35 PM]
11/22/2024AMICUS FOR APPELLEE BRIEF [2086445] filed by Professor Joseph A. Grundfest [Service Date: 11/22/2024 ] Length of Brief: 6,495 words. [24-5205] (Unikowsky, Adam) [Entered: 11/22/2024 05:08 PM]