Ho-Chunk Nation v. Kalshi, Inc.

IGRA claim advancing; PI denied; trial 20277th Cir.Tribe v. Platform

Last updated August 16, 2026. Snapshot — not legal advice.

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. Trial is set for May 2027. The mixed ruling is preliminary and does not resolve the merits.

Timeline

August 2025

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

May 2026

Judge Conley finds likely IGRA success but denies a PI; dismisses Lanham Act/RICO claims; trial set for May 2027.

What's next: Case proceeds toward a May 2027 trial on the IGRA claim.

Parties

Plaintiffs

  • Ho-Chunk Nation

Defendants

  • Kalshi, Inc.
  • KalshiEX LLC
  • Robinhood Markets, Inc.
  • Robinhood Derivatives, LLC
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