Overview
Kalshi’s pre-emptive federal suit against Rhode Island, filed May 21, 2026 — one day before the state filed its own action. Kalshi moved for a TRO and preliminary injunction the next day. The United States and the CFTC then intervened in this docket rather than filing a standalone suit, which is why Rhode Island has three distinct legal actions running at once.
Chief Judge McElroy heard all three preliminary-injunction motions together on August 3, 2026. The decision is pending, and it will resolve the state’s enforcement action, Kalshi’s preemption claim and the federal government’s intervention in a single ruling.
Timeline
May 2026
Kalshi sues Rhode Island officials and moves for a TRO and preliminary injunction the following day.
May 2026
The United States and the CFTC move to intervene and file their own preliminary-injunction motion.
June 2026
The intervenor complaint is filed by the United States and the CFTC.
August 2026
Consolidated hearing on all three preliminary-injunction motions held before Chief Judge McElroy; decision pending.
What's next: Consolidated with State of Rhode Island v. KalshiEX LLC. A ruling on the three preliminary-injunction motions argued August 3, 2026 is still pending before Chief Judge McElroy. Supplemental authority keeps arriving: the State filed on September 25, the United States and the CFTC on October 5 (the Illinois ruling) and Kalshi on October 13, Polymarket US asked leave on October 13 to respond, and an amicus brief was filed on October 19.
Parties
Defendants
- Mark A. Furcolo (Director, Rhode Island Division of State Lottery)
- Additional Rhode Island officials
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