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US appeals court blocks Kalshi from offering event contracts on Native American lands
The 3-0 ruling says the tribes are likely to prove Kalshi’s contracts amount to unauthorized wagers under federal law and tribal gaming ordinances.
- On Wednesday, the Ninth Circuit ruled that Kalshi's sports event contracts likely violate California law by allowing wagers on tribal lands, handing the prediction market platform its second legal setback in less than a month.
- Blue Lake Rancheria and Chicken Ranch Rancheria of Me-Wuk Indians sued Kalshi and Robinhood over violations of the tribes' exclusive rights to manage sports betting on tribal lands, citing misleading 'Sports Betting: Legal in all 50 States on Kalshi' advertisements.
- Writing in Wednesday's unanimous opinion, Circuit Judge Margaret McKeown classified Kalshi's sports event contracts as class III gaming, noting that a $100 contract on the platform mirrors the stake and contingency of a $100 wager on traditional betting apps.
- Kalshi spokesperson Elisabeth Diana indicated the company may appeal, while tribal attorney Les Marsten called the decision 'a great victory for the tribes,' asserting the $44 billion company could have easily geofenced their reservations.
- A bipartisan coalition of 27 states supports the tribes' appeal, arguing a ruling for Kalshi would undermine their authority to stop illegal gambling, while analysts expect the U.S. Supreme Court to eventually determine who should regulate these prediction markets.
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US appeals court blocks Kalshi from offering event contracts on Native American lands
A federal appeals court blocked Kalshi on Wednesday from offering sports event contracts on the lands of two California tribes, handing the largest U.S. prediction markets platform its second legal setback in less than a month.
·London, United Kingdom
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Ninth Circuit Revives Tribal Challenge to Kalshi Sports Contracts in California
Kalshi has suffered another setback in the Ninth Circuit Court of Appeals. A three-judge panel on Wednesday reversed part of a Northern District of California ruling that had denied two tribes’ request for a preliminary injunction against Kalshi and Robinhood. The court held that Blue Lake Rancheria and Chicken Ranch Rancheria of Me-Wuk Indians are likely to succeed in arguing that Kalshi’s sports event contracts constitute unauthorized Class II…
Coverage Details
Total News Sources9
Leaning Left1Leaning Right1Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 17%
C 67%
R 16%
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