✉news WorldLaw & Courts first seen 7 h ago, last 47 min ago, peak #22
Kalshi loses appeals court ruling on state oversight of prediction markets
Original: Kalshi loses appeals court ruling on state regulation of prediction markets
Prediction market operator Kalshi has lost an appeals court ruling concerning whether its event contracts are subject to state-level regulation. The decision threatens the company's argument that federal commodity law preempts state gambling and gaming authorities, a cornerstone of its rapid US expansion. A loss on state preemption could force Kalshi to seek state licenses or exit certain markets, and the ruling is likely to shape how prediction markets are regulated nationwide.
Why now: The ruling could significantly restrict Kalshi's business model and set a precedent for state regulation of the fast-growing prediction market industry.
KalshiUS Court of AppealsCommodity Futures Trading Commission
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