Appeals court rules states can regulate prediction markets

Summarised from 2 outlets · Updated 25 Sept, 23:13 · Archive

An appeals court ruled that states may regulate Kalshi's sports prediction market contracts.

The 6th US Circuit Court of Appeals ruled that Kalshi has not demonstrated its sports event contracts qualify as 'swaps' under federal commodity regulation, clearing the way for state-level oversight. This is the second appeals court decision in less than a month reaching a similar conclusion about state regulatory authority over sports-related event contracts.

How it is being reported

• Appeals court rules that states can regulate Kalshi’s sports prediction markets, dealing another legal blow to platformsCNBC · 25 Sept, 22:06
• Kalshi dealt major blow as appeals court rules states can regulate prediction marketsNew York Post · 25 Sept, 21:34

In this story: Kalshi · 6th US Circuit Court of Appeals

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