Most up-to-date NewsPublishedSep 26, 2026
The sixth US Circuit Court docket of Appeals ruled against prediction market Kalshi, siding with Ohio and Tennessee on regulating sports actions-tournament contracts beneath impart regulations.
Prediction market Kalshi lost on charm when a court docket ruled that Ohio and Tennessee can modify sports actions-tournament contracts beneath their impart gambling regulations.
The sixth US Circuit Court docket of Appeals ruled against Kalshi on Friday when a three-settle panel sided unanimously with Ohio and Tennessee, discovering that the prediction market did no longer existing its sports actions-tournament contracts are “swaps” beneath the jurisdiction of the Commodity Futures Buying and selling Commission (CFTC).
The ruling followed a identical discovering from the ninth Circuit Court docket of Appeals final month, which broke from an April dedication by the third Circuit Court docket of Appeals allowing the corporate to attain commerce in New Jersey as its charm course of proceeds.
The April ruling said Kalshi used to be seemingly to prevail with its argument that federal legislation preempts New Jersey’s rules, all of which has location up a capacity Supreme Court docket case.
Cointelegraph reported on Wednesday that a community of impart lawmakers had filed an amicus transient with the Supreme Court docket, urging it to weigh in on the case between Kalshi and impart gaming authorities, potentially resolving whether or no longer impart authorities or federal businesses own jurisdiction over prediction market companies.
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