Novig Injunction Denial Adds to Prediction Market Defeats in New York District Court

The United States District Court for the Southern District of New York has again passed on an opportunity to enjoin New York officials from enforcing the state's gambling laws against a designated contract market operator. This time, District Judge Colleen McMahon rejected a request for a preliminary injunction against authorities in New York that Novig made. A panel from the US Second Circuit Court of Appeals will review McMahon's opinion. Novig isn't the first exchange operator to press the issue after a judge from the Southern District of New York denied its motion for injunctive relief.