US tries to override New York gambling laws, orders Kalshi to keep operating

The Trump administration filed a legal motion opposing New York's effort to shut down Kalshi, a prediction market platform, arguing that the state's lawsuit created a "market emergency" that justified federal intervention. New York sued Kalshi in 2024 over its election-related betting markets, claiming the platform violated state gambling laws. The administration's motion requests that Kalshi be permitted to continue operating while legal proceedings continue.

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