Kalshi taps Milbank litigation team for prediction market court fights
Kalshi has hired a litigation team from Milbank to handle court battles that could reshape U.S. prediction-market rules. The engagement comes as Milbank has expanded its litigation group. Kalshi is led by co-founders Mansour and Luana and positions itself as a venue for trading on future events alongside Polymarket. The legal support arrives amid active state enforcement actions against the platform, including a New York attorney-general lawsuit and adverse rulings in Wisconsin, Utah, and Washington.
The Milbank hire signals Kalshi is preparing for a multi-year litigation war rather than quick settlements. State attorneys general in New York, Wisconsin, Utah, and Washington have all moved against the platform, and each loss forces Kalshi to geofence another market or absorb contract-voiding costs.
Legal spend compounds with every additional front; the federal registration Kalshi built its expansion on is increasingly just a federal label, not a shield against state gambling law. Traders now face geography-dependent contract validity. The Second Circuit appeal is the only path to a national standard, but that court may not rule before more states file. Every month of delay bleeds operational resources.