A New York federal judge dismissed Novig's preliminary injunction, ruling that state gambling laws applied.

A New York federal judge rejected Novig's preliminary injunction application. The court ruled that Novig's event contracts did not constitute a swap under the Commodity Exchange Act, and that New York State could apply betting and sports betting laws to its activities. (Source: The Block) Daniel Wallach: State regulators may soon shift from defending their enforcement powers in federal courts to actively exercising those powers in state courts, which could be the next big chapter in sports prediction market litigation.