[U.S. Federal Court Issues Preliminary Injunction to Block Illinois Regulation of Kalshi Sports Contracts] Judge Pacold of the U.S. District Court for the Northern District of Illinois has issued a preliminary injunction in a lawsuit involving Coinbase, Kalshi, the U.S. Commodity Futures Trading Commission (CFTC), and Illinois Attorney General Kwame Raoul. The injunction prevents Illinois from classifying Kalshi's sports event contracts as gambling for regulatory purposes. The judge stated that Kalshi's event contracts fall under the definition of swap contracts as outlined in the Commodity Exchange Act, over which the CFTC has exclusive jurisdiction. This federal law takes precedence over Illinois' sports gambling regulations. The court has requested both parties to submit briefs regarding the dispute over fees, and a final ruling has not yet been made.