KALSHIEX, LLC v. FLAHERTY et al
Doc. 21
UNITED STATES DISTRICT COURT DISTRICT OF NEW JERSEY
KALSHIEX LLC, Plaintiff, v. MARY JO FLAHERTY, et al. , Defendants.
Case No. 25–cv–02152–ESK–MJS
OPINION
KIEL, U.S.D.J. THIS MATTER is before the Court on plaintiff KalshiEX LLC’s (Kalshi) motion for a temporary restraining order and preliminary injunction. (ECF No. 2 (Kalshi Mot.).) 1 For the following reasons, the motion will be GRANTED. I. BACKGROUND Kalshi is a financial services company principally located in New York that operates a derivatives exchange and prediction market. (ECF No. 1 (Compl.) p. 4.) Defendant New Jersey Division of Gaming Enforcement (the Division) is an independent state agency within the New Jersey Attorney General’s office that promulgates rules and regulations for the licensing and operating of gaming in New Jersey, enforces state gaming laws and regulations, and monitors casino operations for compliance and conducts related 1 Kalshi stated in its moving brief that if I am able to resolve its motion for a preliminary injunction prior to the then-applicable compliance deadline of April 7, 2025, a temporary restraining order would be unnecessary. (Kalshi Mot. p. 4.) The parties thereafter agreed to extend the compliance deadline to April 30, 2025. (ECF No. 6 (Apr. 1, 2025 Letter).) Because I am filing this decision while the status quo remains in effect, I do not consider whether a temporary restraining order is warranted.
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