Appeals court rules against Kalshi, says prediction markets can be regulated like gambling
The 6th U.S. Circuit Court of Appeals ruled against the prediction market Kalshi Friday, determining states can regulate prediction market platforms like gambling in the latest blow to the industry. In a unanimous ruling, the three-judge panel sided with Ohio and Tennessee, finding Kalshi did not show its sports-event contracts are "swaps" that typically fall...
We haven't written up this one. The Hill has the full story — the link below goes straight to it.
Also reported by 4 other outlets
- Another appeals court rules against prediction market provider Kalshi, says sports contracts are subject to state regulations coindesk.com
- Appeals court rules that states can regulate Kalshi’s sports prediction markets, dealing another legal blow to platforms cnbc.com
- US appeals court rules against Kalshi, says states can regulate prediction markets investing.com
- US appeals court rules against Kalshi, says states can regulate prediction markets channelnewsasia.com
