Federal appeals court panel gives Nevada a win in its fight to regulate prediction market Kalshi
The 3-0 ruling says federal law likely does not block state gaming rules, deepening a split with the Third Circuit.
- A federal appeals court ruled that Nevada can enforce its gambling laws on sports-related prediction contracts, rejecting claims that these contracts are federally regulated financial instruments under the Commodity Exchange Act.
- The Ninth Circuit determined that Kalshi's sports event contracts are sports bets, not swaps, and thus may be regulated by states, contrasting a prior Third Circuit ruling favoring Kalshi.
- The court noted Kalshi's own advertising labeling itself as a legal sports betting app in all 50 states as evidence that these contracts constitute sports gambling.
- Kalshi plans to continue challenging the ruling, asserting that Commodity Futures Trading Commission regulations permit its sports contracts, while Nevada officials viewed the decision as a significant victory for state gaming regulation.
121 Articles
121 Articles
Ninth Circuit ruling strengthens Arizona’s position in fight over Kalshi sports betting
A federal appeals court ruling could give Arizona more leverage in its dispute with Kalshi over whether sports-related contracts offered on a financial trading platform should be treated as bets or financial products. The Ninth Circuit ruled in KalshiEX, LLC v. Assad that the federal Commodity Exchange Act does not prevent Nevada from regulating Kalshi’s […]
States Can Treat Prediction Markets as Gambling: Court
Prediction markets just got a sharp reminder that states still call a lot of the shots. A federal appeals court on Friday ruled that states can treat sites like Polymarket and Kalshi as gambling operations, not just quirky financial exchanges, marking the most significant legal win yet for state regulators,...
Appeals Court: States Can Regulate Prediction Markets
NOTUS reports: States can regulate prediction market platforms as a form of gambling, the 9th Circuit Court of Appeals ruled Friday, opening the door for state-by-state regulation of companies like Kalshi. The ruling from a three-judge panel of Trump appointees upends the status quo for prediction market sites that had, up until this week, been … The post Appeals Court: States Can Regulate Prediction Markets appeared first on Joe.My.God..
Hawaii Tribune-Herald
BizTocPrediction markets should be regulated as gambling, appeals court says
A federal appeals court ruled on Friday that states had the ability to regulate prediction markets, a win for the states in an ongoing battle with federal regulators over who had authority over popular wagering platforms. The post Prediction markets should be regulated as gambling, appeals court says appeared first on Hawaii Tribune-Herald.
Kalshi loses Nevada appeal over sports event contracts
A three-judge federal appeals panel has rejected Kalshi’s attempt to block Nevada gaming regulators from enforcing state laws against its sports event contracts. The U.S. Court of Appeals for the Ninth Circuit ruled on Aug. 28 that Kalshi had not…
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