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25-1892·CIVIL

Kalshiex LLC v. John Martin

Status
  1. Scheduled
  2. Argued (current)
  3. Opinion Issued
Question Presented

Whether the Commodity Exchange Act preempts application of Maryland gambling laws to exchange-traded sports event contracts.

Argument Date
May 7, 2026
Argument Time
9:30 a.m.
Panel
III
Courtroom
Blue Courtroom (Room 339)
Lower Court Judge
Abelson

Panel

Judge Gregory
Judge Thacker
Judge Benjamin

Citation

CaseKalshiex LLC v. John Martin, No. 25-1892 (4th Cir. argued May 7, 2026)
PanelGregory, Thacker & Benjamin, JJ.

Arguing Counsel

Panel That Day

0 of 3 cases argued May 7, 2026 before this panel have been decided.

Authorship Outlook

No opinions from this panel have been decided yet, so authorship can't be narrowed — the 3 pending opinions could come from any of the panelists.

This is a statistical guess based on prior sittings in this dataset, not a prediction of the ruling.

Predicted Opinion Release

Likely between November 5, 2026 and August 6, 2027, with December 24, 2026 the most likely date.

Argued 174 days ago. About 81% of comparable cases would have an opinion by now — this one is trending late.

■ ■ ■Calibrated from a deep history (560 prior subject cases + 2 prior panel cases)

80% predictive interval from a log-logistic accelerated-failure-time model fit on 2,134 prior decided cases plus 111 currently-pending cases as right-censored evidence. Updates as days pass with no opinion. How this is calculated →

Oral Argument Audio