State of Wisconsin v. Kalshi, Inc.

Remand and state injunction motions pending7th Cir.State 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

Wisconsin’s Attorney General (Joshua Kaul) sued on April 24, 2026 over unlicensed sports event contracts, in three separate actions filed the same day, all removed to the Western District of Wisconsin: this one against the Kalshi entities and their broker distributors (No. 3:26-cv-00378), one against QCX, LLC (Polymarket US, No. 3:26-cv-00375) and one against Foris Dax Markets, Inc. (Crypto.com, No. 3:26-cv-00381). It prompted the federal suit against the state, and runs parallel to the Ho-Chunk Nation’s separate IGRA suit.

Two motions are pending before Judge Conley. The state asked for a preliminary injunction, fully briefed since August 7, 2026; and it moved to send the case back to state court. The defendants need not answer until thirty days after the remand ruling. The docket suggests the defendant list was narrowed when the complaint was amended in July; which parties were dropped is not visible on the public record.

Changes

Logged September 26, 2026

  • Correction

    Our entry had not been updated since April. Wisconsin’s own preliminary-injunction motion against Kalshi and its brokers has been fully briefed since August 7, alongside a pending motion to remand; neither has been decided.

    CourtListener — 3:26-cv-00378

Timeline

April 2026

Wisconsin AG sues Kalshi; the CFTC sues Wisconsin in response.

August 7, 2026

Briefing closes on the state’s preliminary-injunction motion; the remand motion is also pending.

What's next: Rulings on the state’s motion to remand and on its preliminary-injunction motion, fully briefed since August 7, 2026. A notice of supplemental authority was filed September 22.

Parties

Plaintiffs

  • State of Wisconsin (Attorney General Joshua Kaul)

Defendants

  • Kalshi, Inc.
  • KalshiEX, LLC
  • Kalshi Trading, LLC
  • Kalshi Klear, Inc.
  • Kalshi Klear, LLC
  • Coinbase Global, Inc.
  • Coinbase Financial Markets, Inc.
  • Robinhood Markets, Inc.
  • Robinhood Securities, LLC
  • Robinhood Derivatives, LLC
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