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On October 2nd, Martha Pacold, a federal judge for the Northern District of Illinois, partially approved the preliminary injunction applications of Kalshi, Coinbase, and the US government, ruling that the state's sports betting license system and related criminal provisions are subject to federal law and temporarily prohibiting them from requiring Kalshi to hold a state license. The judge determined that Kalshi's "Champion Match" contract is a swap under the Commodity Exchange Act, which must be traded in a designated contract market and is not subject to state regulation. This is Kalshi's first federal victory since the Minnesota case in July. (Source: Bitcoin.com)