{
  "id": 4055596,
  "title": "Court rules Kalshi sports bets aren't \"swaps,\" just gambling with a different name",
  "url": "https://urgent.news/2026/08/28/court-rules-kalshi-sports-bets-arent-swaps-just-gambling-with-a",
  "topic": "world",
  "section": "World",
  "published": "2026-08-28T22:14:52.000Z",
  "source": {
    "name": "Ars Technica",
    "slug": "ars-technica",
    "url": "https://arstechnica.com/tech-policy/2026/08/kalshi-cant-evade-nevada-gambling-laws-by-calling-bets-swaps-court-rules/"
  },
  "original_language": "en",
  "account": null,
  "summary": "A federal appeals court has ruled that Kalshi, a prediction market company, cannot evade Nevada's gambling laws by labeling its sports bets as swaps rather than gambling. The US Court of Appeals for the 9th Circuit unanimously sided with Nevada, stating that the federal Commodity Exchange Act does not allow Kalshi to avoid state regulation. Governor Joe Lombardo of Nevada emphasized that prediction markets offering sports-event contracts are gambling and must comply with state laws. The decision effectively puts an end to Kalshi's attempts to circumvent Nevada's gambling regulations.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Ars Technica Policy",
        "title": "Court rules Kalshi sports bets aren't \"swaps,\" just gambling with a different name",
        "url": "https://urgent.news/2026/08/28/court-rules-kalshi-sports-bets-arent-swaps-just-gambling-with-a-4065363",
        "published": "2026-08-28T22:14:52.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}