According to crypto journalist Eleanor Terrett, Judge Torres—who previously presided over the Ripple case—has once again become the center of a major legal controversy.
In Kalshi’s case in the Southern District of New York, Judge Torres denied the exchange’s motion for a preliminary injunction, ruling that New York State gambling laws apply to Kalshi’s sports event contracts and are not preempted by the Commodity Exchange Act; the case will now proceed to the motion-to-dismiss stage.[PANews]