[Tennessee Judge Approves Preliminary Injunction, Prohibiting the State from Enforcing Gambling Laws on Kalshi] Odaily Planet Daily News: According to reports, a federal judge in Tennessee has approved a motion for a preliminary injunction from the prediction market platform Kalshi, prohibiting state officials from enforcing state gambling laws on its sports event contracts. The judge believes that Kalshi's sports event contracts are highly likely to be classified as swaps under federal commodity laws, which could prioritize federal laws over state regulations. Previously, Tennessee regulators had issued a cease-and-desist letter to Kalshi, threatening that its operations without a state license violated the Tennessee Sports Gaming Act. Attorney Andrew Kim commented on the X platform that this ruling differs from the decision in Nevada. Earlier this week, the CFTC filed an amicus brief in a related case involving (Crypto.com) and Nevada, asserting its "exclusive jurisdiction" over prediction markets and event contracts as commodity derivatives. (The Block)