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Kalshi’s Second Circuit brief cites the 1981 Leist v. Simplot potato futures case to argue CEA preemption of Connecticut gambling laws. It challenges the district court’s swaps ruling and offers an alternative reading that contracts need not qualify as swaps. The move comes after 15 straight federal…
District Court erred because it failed to consider the Second Circuit's finding in 1981 "potato war" case, Kalshi argues.