Ninth Circuit Allows States to Regulate Sports-Prediction Markets
TL;DR Summary
The Ninth Circuit ruled that federal commodities-trading law does not preempt Nevada’s gambling rules for regulating sports betting via prediction markets, marking a major setback for Kalshi and potentially shaping upcoming Supreme Court decisions on the legality of prediction markets.
- Federal appeals court rules that states can regulate betting markets NBC Sports
- States can regulate prediction markets as gambling, federal appeals court rules CNN
- Federal court deals big blow to prediction markets like Kalshi sfgate.com
- Court rules Kalshi sports bets aren’t “swaps,” just gambling with a different name Ars Technica
- Kalshi cannot block Nevada oversight of prediction markets, US appeals court rules Reuters
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