2026 Membership Book FINAL

Case 1:25-cv-01283-ABA Document 26 Filed 05/09/25 Page 1 of 36

IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MARYLAND

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KalshiEX, LLC

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Plaintiff

Case No.: 25-cv-1283-ABA

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v.

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John A. Martin, et al.,

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Defendants .

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DEFENDANTS’ OPPOSITION TO PLAINTIFF’S MOTION FOR PRELIMINARY INJUNCTION

ANTHONY G. BROWN Attorney General of Maryland

ERIK J. DELFOSSE Federal Bar No. 18881 Assistant Attorney General

MAX F. BRAUER Federal Bar No. 30162 Assistant Attorney General

Maryland Lottery and Gaming Control Agency

Securities Division 200 Saint Paul Place

1800 Washington Boulevard

Suite 330

25th Floor

Baltimore, Maryland 21230

Baltimore, Maryland 21202

Attorneys for Defendants, John A. Martin, Maryland Lottery and Gaming Control Commission, Maryland Lottery and Gaming Control Agency, Everett D. Browning, Sr., E. Randolph Marriner, Ade Adebisi, Diane Croghan, George L. Doetsch, Jr., Harold E. Hodges, and James J. Stakem, and Anthony G. Brown

May 9, 2025

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