Enforcement: How hard does the regulator enforce?

New Mexico's enforcement posture centres on a multi-front dispute over federally-registered event contracts rather than any new rule from the Gaming Control Board. The Attorney General's suit against Kalshi, alleging an unlicensed online sportsbook, was removed from state to federal court, while the CFTC separately sued New Mexico asserting that its own claimed federal authority over event contracts preempts the state's enforcement theory. Four New Mexico tribes brought a consolidated action against Kalshi, with a preliminary-injunction hearing held before Judge Margaret Strickland on 23 September 2026; the outcome has not been located. The dispute is further complicated by a 9 October 2026 CFTC proposed rule that would classify such contracts as federal swaps while excluding licensed casino gambling, and by a 25 September 2026 Sixth Circuit ruling that states may regulate sports-event contracts as gambling, creating a circuit split against the Third Circuit that Kalshi is now seeking to overturn en banc. No new Gaming Control Board licensing-enforcement rule accompanied these developments.