[US Federal Judge Says CFTC Order Protecting Kalshi "Contains Collusion"] Odaily reports that Judge Colleen McMahon of the Southern District of New York on November 10 rejected prediction market Novig's preliminary injunction application against New York State, ruling that its sports event contracts likely do not fall under the definition of swaps under the Commodity Exchange Act, and that New York State could apply betting laws to it. Novig filed a notice of appeal with the Second Circuit Court of Appeals hours later. McMahon also criticized the Commodity Futures Trading Commission (CFTC) for issuing an order requiring Kalshi to continue operating after being sued in New York State, stating that the order "contains collusion between the regulator and the regulated party." She argued that the CFTC's rules define sports event contracts as swaps, yet state that sports betting and casino betting do not, creating an inherent contradiction. (Bitcoin.com News)