Case 1:25-cv-02152-ESK-MJS Document 15 Filed 04/18/25 Page 46 of 51 PageID: 167
must cease accepting is unauthorized sports wagers. That is, Kalshi may continue to accept sports wagers from New Jersey users so long as it obtains the required licensure and complies with the New Jersey Sports Wagering Act. Kalshi’s alleged injury therefore is caused not by the cease-and-desist let- ter, but by its failure to secure a license. “Injury caused by failure to secure a readily available license is self-inflicted, and self-inflicted wounds are not irrep- arable injury.” Second City Music, Inc. v. City of Chicago , 333 F.3d 846, 850 (7th Cir. 2003); see Caplan v. Fellheimer Eichen Braverman & Kaskey , 68 F.3d 828, 839 (3d Cir. 1995) (“If the harm complained of is self-inflicted, it does not qualify as irreparable.”); State v. Biden , 10 F.4th 538, 558 (5th Cir. 2021) (similar). True, New Jersey prohibits a small subset of sports wagers on college sporting events involving New Jersey colleges or taking place in New Jersey. But Kalshi has not identified any particular New Jersey–related college games on which it intends to accept wagers during the pendency of this case; and this case presents purely legal issues that could be handled expeditiously on dispositive motions. And any such injury would be purely economic, which is generally insuf- ficient to establish irreparable harm. Minard Run Oil Co. v. U.S. Forest Serv. , 670 F.3d 236, 255 (3d Cir. 2011). While the logic is different in cases against a sov- ereign, “[t]hat the Eleventh Amendment may pose an obstacle to recovery of damages in the federal court does not transform money loss into irreparable in- jury for equitable purposes.” Black United Fund of N.J., Inc. v. Kean , 763 F.2d 156, 161 (3d Cir. 1985). Because Kalshi has not identified any prohibited wagers that it plans to accept during the pendency of this case, any harm from ceasing to
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