Status as of September 25, 2026 · every line has its source and date · not legal advice
As of September 25, 2026, Kalshi is available in Montana, and its sports contracts are available, according to CBS Sports (September 24, 2026). 7 state actions involving Kalshi are listed below with their sources. This is a dated summary of public sources, not legal advice.
Status at a glance
Service
Montana
Kalshi (CFTC-regulated exchange)
Available
Kalshi sports contracts
Available
Polymarket US (for comparison)
Reported available
polymarket.com (international site)
No new trades for US users
Kalshi is reported live in Montana, including sports: under a 2026-09-17 court stipulation Montana agreed not to enforce until Kalshi's Ninth Circuit en banc petition in the Nevada case is resolved, and to give 30 days' notice before any enforcement. Polymarket US is reported live (news-level evidence only).
In a court-filed stipulation, Montana officials agreed not to bring any enforcement action against Kalshi over event contracts traded on its CFTC-regulated exchange while Kalshi's Ninth Circuit rehearing request in the Nevada case is pending. Joint Stipulation of Dismissal, KalshiEX LLC v. Knudsen (D. Mont.), Doc. 35, September 17, 2026
Kalshi and Montana filed a joint stipulation in which Montana agreed to pause enforcement until Kalshi's en banc petition in the Ninth Circuit Nevada case (KalshiEX v. Assad, No. 25-7516) is resolved and to give 30 days' written notice before any later enforcement. Joint Stipulation of Dismissal, KalshiEX LLC v. Knudsen (D. Mont.), Doc. 35
2026-08-27
Kalshi
After earlier agreed stays, Judge Donald W. Molloy refused a further stay and denied Kalshi's April 21 preliminary-injunction motion without prejudice, ordering Montana to respond to the complaint within 21 days. KalshiEX LLC v. Knudsen (D. Mont.), docket entry 33
2026-04-12
Kalshi
Kalshi sued Attorney General Austin Knudsen, GCD Administrator Alex Sterhan, the GCD and five members of the Montana Lottery and Sports Wagering Commission in federal court in Montana to block enforcement (No. 6:26-cv-00028). KalshiEX LLC v. Knudsen, No. 6:26-cv-00028 (D. Mont.), docket
According to Kalshi's complaint, the GCD agreed not to enforce against Kalshi while Kalshi's Nevada case (KalshiEX v. Hendrick) was pending, and confirmed this in writing on April 16, 2025. Complaint, KalshiEX LLC v. Knudsen (D. Mont.), Doc. 1
Montana's pause lasts until the later of a denial of Kalshi's request for further review or an en banc decision in the Ninth Circuit Nevada case; after that, the AG, GCD Administrator or GCD must give Kalshi 30 days' written notice before starting enforcement. Joint Stipulation of Dismissal, KalshiEX LLC v. Knudsen (D. Mont.), Doc. 35
State regulator: Montana Department of Justice, Gambling Control Division (GCD). The GCD issued both cease-and-desist orders to Kalshi; per Kalshi's complaint, the GCD regulates all gambling except sports betting, the Montana Lottery and horse racing, while Sports Bet Montana is overseen by the Montana Lottery and Sports Wagering Commission. The GCD website (dojmt.gov) returned HTTP 403, so the URL is the GCD's April 6, 2026 letter as filed in court.
The federal picture
Kalshi has been a CFTC-designated contract market since November 4, 2020 (CFTC release 8302-20). Whether states may still apply their gambling laws to sports event contracts is being decided in the courts, and the federal appeals courts do not agree yet:
September 25, 2026: Pending appellate decisions that could change several states' status: Sixth Circuit (Kalshi v. Ohio, No. 26-3196, and Kalshi v. Tennessee, No. 26-5235; argued 2026-07-30), Fourth Circuit (Kalshi v. Maryland, No. 25-1892; argued 2026-05-07), Second Circuit (Kalshi's New York and Connecticut appeals, Nos. 26-1835 and 26-2239, heard in tandem), Seventh Circuit (CFTC and Kalshi appeals from the Wisconsin injunction denial, No. 26-2636 et al.), Tenth Circuit (Kalshi v. Utah, No. 26-4100). No decision in any of these appeared in the court records checked for this file (CourtListener; indexes can lag PACER by a few days). CourtListener dockets cited in the Ohio, Tennessee, Maryland, New York, Connecticut, Wisconsin and Utah entries
September 16, 2026: Ninth Circuit (Blue Lake Rancheria v. Kalshi, Inc., No. 25-7504; Murguia, McKeown, Paez; opinion by Judge McKeown) affirmed in part and reversed in part the denial of two California tribes' preliminary-injunction motion, holding the tribes likely to succeed in showing Kalshi's sports event contracts entered from tribal lands are class III gaming offered in violation of IGRA and their gaming procedures; the case was remanded for the remaining injunction factors, so no injunction had issued as of the last docket entry checked. Blue Lake Rancheria v. Kalshi, Inc., No. 25-7504 (9th Cir. Sept. 16, 2026) - published opinion (PDF)
September 2, 2026: New Jersey petitioned the US Supreme Court for certiorari in Flaherty v. KalshiEX, LLC (No. 26-299, docketed 2026-09-08); Kalshi's response deadline was extended to 2026-11-09; an amicus brief was filed 2026-09-22 by the National Council of Legislators from Gaming States. Supreme Court docket No. 26-299
August 28, 2026: Ninth Circuit (KalshiEX, LLC v. Assad, No. 25-7516; opinion by Judge R. Nelson, with Judges Bade and Lee; Lee concurring) affirmed in part the District of Nevada's order dissolving Kalshi's preliminary injunction, holding the CEA likely does not preempt Nevada gaming law as applied to Kalshi's sports event contracts (which it described as sports bets, not 'swaps'), and remanded for the district court to consider Nevada's challenges to Kalshi's election contracts. Nevada's regulator described the ruling as a 3-0 decision also covering Crypto.com and Robinhood. KalshiEX, LLC v. Assad, No. 25-7516 (9th Cir. Aug. 28, 2026) - published opinion (PDF)
How sure is this page? Confidence: medium. Kalshi's Montana status and all key events are confirmed by court records and two outlets from the last week, but Polymarket US's Montana status could not be resolved. Researched September 25, 2026; court cases can change the status at any time, so check Kalshi's app before you trade.
As of September 25, 2026, Kalshi is available in Montana, and its sports contracts are available, according to CBS Sports (September 24, 2026). 7 state actions involving Kalshi are listed below with their sources. This is a dated summary of public sources, not legal advice.
Can I trade sports contracts on Kalshi in Montana?
Kalshi's sports contracts are available in Montana according to the sources on this page as of September 25, 2026. State lawsuits and court orders can change that quickly, so check the dated timeline and Kalshi's app.
Is Kalshi regulated?
Yes, federally: the CFTC designated KalshiEX LLC as a contract market on November 4, 2020. States disagree on whether their gambling laws also reach sports event contracts, and federal courts are split, so availability differs by state.