✉news WorldLaw & Courts first seen 8 h ago, last 43 min ago, peak #1
Federal court rules Kalshi subject to Tennessee gambling laws
Original: Federal court rules Kalshi is subject to Tennessee’s gambling laws for sports contracts
A federal court has ruled that prediction-market platform Kalshi must comply with Tennessee's gambling laws in relation to its sports event contracts. The decision means Kalshi cannot treat its sports offerings as federally regulated financial products exempt from state gambling regulation in Tennessee. It adds to ongoing legal battles between prediction-market operators and state regulators across the United States over whether sports contracts amount to gambling.
Why now: The ruling affects the fast-growing prediction-market industry's fight with state regulators over sports contracts.
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- Federal court rules Kalshi is subject to Tennessee’s gambling laws for sports contracts · Tennessee Lookout
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