Louisiana judge freezes event-contract trading across 31 platforms in single order
A Louisiana judge issued a temporary restraining order on Thursday, November 12, 2026, blocking Kalshi, Polymarket U.S., Robinhood, Coinbase, and more than 30 other platforms from offering event contracts to state residents. The order requires platforms to geofence Louisiana and was issued the same day the state attorney general filed suit. The 10-day halt treats federal CFTC registration as no barrier to immediate state shutdown and extends beyond prediction-market specialists to major crypto and brokerage venues.
This is the widest state trading freeze yet, and it gives every other attorney general a ready template. Sue every operator at once, seek an immediate halt, and let preemption debates trail behind contempt risk. Kalshi already faces parallel civil suits in Ohio, Tennessee, and Arkansas while its founders face felony arraignment in Utah on December 4.
Robinhood and Coinbase lose any separate-venue defense they might have claimed; one state judge froze all their event-contract activity statewide in a single order. The first platform that fails to lift an immediate halt will see competitors pull products rather than risk criminal exposure. Polymarket US and Robinhood's preemptive Missouri and Arkansas suits now look slow against hours-long ex parte court orders.
The Louisiana action follows state court defeats for Kalshi in Ohio and Tennessee, a New York ruling against Novig, and parallel federal suits by Polymarket US and Robinhood in Missouri and Arkansas, making it the fourth distinct state or federal front where CFTC registration has failed to block immediate gambling enforcement.