By The Weekly Edge desk ·
SBC Americas reported that a federal judge denied Kalshi’s request to block Utah officials from enforcing gambling laws. Judge Robert Shelby ruled for Utah on summary judgment and rejected Kalshi’s argument that federal law pre-empted state enforcement.
The ruling permits Utah to enforce its gambling laws against Kalshi.
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The partnerships give the tribes customer-facing apps while Kalshi operates the underlying exchange and settles transactions.
Four additional tribal agreements give tribes app ownership and customer management while Kalshi supplies exchange services.
Kalshi’s sponsorships expand MLB prediction market partnerships, with four new partners playing in states that prohibit sports betting.
The agreements give Kalshi advertising exposure and fan engagement opportunities across five MLB teams.
JPMorgan’s estimate gives investors potential additional EBITDA from Genius Sports’ agreements with Kalshi and Polymarket.
The agreements connect Genius Sports with two prediction market platforms.