Case 3:25-cv-06162-JSC Document 71 Filed 11/10/25 Page 1 of 13
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UNITED STATES DISTRICT COURT
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NORTHERN DISTRICT OF CALIFORNIA
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BLUE LAKE RANCHERIA, et al.,
Case No. 25-cv-06162-JSC
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Plaintiffs,
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ORDER DENYING PLAINTIFFS ’ MOTION FOR PRELIMINARY INJUNCTION
v.
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KALSHI INC., et al.,
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Re: Dkt. No. 35
Defendants.
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Plaintiffs allege Defendants are unlawfully offering and advertising Class III gaming on
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federally recognized tribal lands through the Kalshi app. Plaintiffs are three federally recognized
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tribes whose reservations are in California: Blue Lake Rancheria (“Blue Lake”), Chicken Ranch
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Rancheria of Me- Wuk Indians (“Chicken Ranch”), and Picayune Rancheria of the Chukchansi
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Indians (“Picayune Rancheria”). Defendant KalshiEx LLC (“Kalshi”) partners with Robinhood
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Derivatives, LLC, and Robinhood Markets, Inc. (toge ther, the “Robinhood Defendants”) to
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operate a nationwide, federally registered, internet-based exchange with “ event contracts ” wherein
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users can enter transactions that are based on the occurrence of real-world events such as elections
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and sports matches. Plaintiffs bring claims under the Indian Gaming Regulatory Act (“I GR A”)
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and the Lanham Act, as well as five claims that are not the subject of the instant motion.
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Now pending before the Court is Plaintiffs’ motion for a preliminary injunction. As to the
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IGRA claim, Plaintiffs seek to enjoin Kalshi “ from offering on the Tribes’ Indian lands contracts
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that take the form of a binary ‘yes/no’ event contract that pose the following questions:
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1. ‘Will <team> win <title>?’
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2. ‘Will <team> win <event>?’”
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