Ho-Chunk Nation v. Kalshi, Inc.

Also captioned Kalshi Inc. v. Ho-Chunk Nation

Stayed; interlocutory appeal sought (7th Cir.)7th Cir.Tribe v. Platform

Docket last checked September 26, 2026. Snapshot — not legal advice.

As of September 27, 2026, the legality of prediction markets in Wisconsin is unresolved — litigation is ongoing with no final ruling yet. Wisconsin status and cases →

Overview

A closely-watched tribal challenge. Judge William Conley (W.D. Wis.) found the Ho-Chunk Nation likely to succeed on its Indian Gaming Regulatory Act claim that Kalshi’s sports contracts intrude on tribal gaming rights, but denied a preliminary injunction for lack of shown irreparable harm (May 2026); he dismissed the tribe’s Lanham Act and RICO claims but let the IGRA claim proceed.

On September 11, 2026 he denied the Nation leave to amend its Lanham Act claim, certified the May ruling for interlocutory appeal — calling the questions novel, without controlling precedent in the Seventh Circuit, and likely headed to the Supreme Court — and stayed the whole case. Kalshi petitioned the Seventh Circuit for permission to appeal on September 21 (No. 26-8020). The May 2027 trial date is effectively off the calendar while the stay runs. The Nation has filed the Ninth Circuit’s Blue Lake Rancheria decision as supplemental authority.

Changes

Logged September 22, 2026

  • Ruling

    Judge Conley certified his IGRA ruling for interlocutory appeal, denied the Nation leave to amend, and stayed the case, taking the May 2027 trial off the calendar. Kalshi petitioned the Seventh Circuit on September 21 (No. 26-8020).

    Opinion and order (Doc. 114)

Timeline

August 2025

Ho-Chunk Nation sues Kalshi and Robinhood entities in the Western District of Wisconsin.

May 11, 2026

Judge Conley denies a preliminary injunction and dismisses the Lanham Act and RICO claims, but denies the motions to dismiss in all other respects, so the IGRA claim survives.

May 11, 2026

The same order dismisses Robinhood Markets and Robinhood Derivatives as defendants, leaving the two Kalshi entities.

June 2026

Kalshi moves to certify the IGRA ruling for interlocutory appeal; the Nation moves for leave to amend.

September 11, 2026

Judge Conley denies leave to amend, certifies the May ruling for interlocutory appeal and stays the case.

September 21, 2026

Kalshi petitions the Seventh Circuit for permission to appeal (No. 26-8020).

What's next: The Seventh Circuit decides whether to accept Kalshi’s petition for permission to appeal (No. 26-8020, filed September 21, 2026). The district case is stayed meanwhile, so the November 2026 motions deadline and the May 2027 trial are off the calendar.

Parties

Plaintiffs

  • Ho-Chunk Nation

Defendants

  • Kalshi, Inc.
  • KalshiEX LLC
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