Appeals Court Rules States Can Regulate Kalshi's Sports Prediction Markets
The 6th US Circuit Court of Appeals ruled against Kalshi, siding with Ohio and Tennessee on their authority to regulate sports-event contracts under state law, according to Cointelegraph.
CoinDesk reported the ruling marks another appeals court decision against the prediction market provider, finding that its sports contracts fall under state regulatory oversight rather than being shielded by federal commodities law.
According to CNBC, this is the second ruling in less than a month from an appeals court affirming that states have a role in regulating sports-related event contracts, adding to a string of legal setbacks for Kalshi and similar platforms.
Cointelegraph noted the decision could set up a potential Supreme Court case as Kalshi contests state efforts to restrict or license its sports-event markets.
Sources: CNBC, CoinDesk, Cointelegraph
This article is for information only and is not financial advice.
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