FlightAware dropped its lawsuit against prediction market platform Kalshi just one day after filing it. The initial complaint had alleged trademark infringement, breach of contract, reputational harm and unfair competition. This decision comes as Kalshi and other prediction market platforms face legal action from numerous US state gaming authorities over alleged illegal sports betting. The CFTC invoked « emergency authority » to block New York authorities’ attempts to prohibit Kalshi from offering event contracts nationwide. In June, a Michigan judge ordered Kalshi to stop offering sports betting contracts to state residents, but the CFTC ordered the company not to comply with that state order.
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