BATON ROUGE — A Louisiana judge has granted a temporary restraining order prohibiting Kalshi, Polymarket, Coinbase, Robinhood and several other prediction market and trading operators from continuing what state officials describe as unlicensed and illegal online gambling in Louisiana.

The ruling follows a lawsuit filed in the 21st Judicial District Court in Tangipahoa Parish by Louisiana Attorney General Liz Murrill, who sought immediate intervention to halt the platforms' operations in the state.

Following the court's decision, Murrill released a statement praising the order and warning unlicensed operators of severe legal consequences.

"It’s not complicated: if you aren’t a licensed gaming operator, you aren’t legal. Illegal gambling is a crime and is subject to jail time and significant penalties," Murrill said. "Judges all over the country have overwhelmingly called this activity what it is: gambling. Kalshi’s and the other operators’ attempts to make up new words to evade state gambling laws, regulators, and taxes are not fooling anyone."

According to court documents, the state's petition for injunctive relief and civil penalties targets a wide array of entities. Key defendants named in the filing include:

- Prediction markets: Kalshi Inc., QCX LLC (doing business as Polymarket US), ForecastEx LLC, Ludlow Exchange LLC (Novig), and ProphetX Opco LLC (ProphetX).

- Financial and crypto platforms: Robinhood Markets Inc., Coinbase Global Inc., Foris DAX Inc. (Crypto.com) and Gemini Trust Company LLC.

- Sports and derivatives entities: Underdog Sports Holdings Inc., North American Derivatives Exchange Inc. and IG Group Holdings PLC.

In the lawsuit, the Attorney General's office argued that "in today's digital betting market, virtually anything can become a wager." The filing specifically pointed to KalshiEX's platform as an example, noting that users could place bets on non-sporting events and political outcomes, such as which party will control the Senate, who will be the next White House Press Secretary, Oscar winners, Federal Reserve interest rates, and college football championships.

The state's legal action—and the resulting restraining order—comes just weeks after Kalshi preemptively filed a federal lawsuit against top Louisiana leaders, including Governor Jeff Landry, Murrill and members of the Louisiana Gaming Control Board. In that federal suit, Kalshi sought to block the state from shutting down its sports-related trading platform or charging the company under local gambling laws, arguing its contracts fall under federal oversight.

Beyond the civil penalties and preliminary injunction Louisiana is pursuing in state court, the platforms have faced escalating scrutiny nationwide. The state of Utah also filed criminal charges against Kalshi and its co-founders in October.