New York lawsuits leave prediction market access intact as Kalshi appeals

Kalshi and Polymarket US continue to accept New York traders while the state pursues lawsuits against both exchanges, according to New York Prediction Markets. The outlet’s update was published Nov 7, 2026, at 10:15 AM ET.

Kalshi’s operating status and appeal

The updated state guide says Kalshi remains operational in New York under an August 11 CFTC emergency order. That order is the basis identified in the summary for its continued operation despite the legal dispute.

A federal judge sided with the state on preemption, according to New York Prediction Markets. Kalshi has appealed that ruling, and the appeal is now before the Second Circuit.

The available summary provides no comparable detail about the proceedings involving Polymarket US. Its continued acceptance of New York traders should therefore be distinguished from the specific order and appellate process described for Kalshi.

What it means for prediction markets

• Access and legal status remain distinct: Both exchanges still accept New York traders, but the state’s lawsuits remain ongoing.
• Kalshi’s appeal is a key development to track: The Second Circuit now has the preemption dispute; the summary gives no timetable for a decision.
• The platforms’ positions should not be conflated: The August 11 CFTC emergency order and the appeal are described specifically in relation to Kalshi, not Polymarket US.