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Gambling Laws

All articles tagged with #gambling laws

law19 days ago•6 min saved

Utah Wins Round Against Kalshi, Signals Tightened Rules for Prediction Markets

U.S. District Judge Robert Shelby ruled Utah can enforce its gambling laws against Kalshi’s prediction markets, denying Kalshi’s bid for federal preemption. The decision does not order an immediate shutdown in Utah, but Attorney General Derek Brown says enforcement will proceed and Kalshi has appealed to the 10th Circuit. With Utah’s HB243 backing broader state regulation and similar legal battles ongoing in multiple states, Kalshi’s future in Utah remains uncertain and will hinge on appellate outcomes and potential federal action.

via The Salt Lake Tribune|

#gambling-laws #hb243 #kalshi

business5 months ago•6 min saved

Nevada Pauses Kalshi's Prediction Market Operations in 14-Day TRO

A Nevada court issued a 14-day restraining order barring Kalshi from offering sports, election, and entertainment event contracts in the state unless it obtains gaming licenses, intensifying the national regulatory fight over prediction markets; the case mirrors other state actions (Arizona charges; Ohio/Tennessee/Massachusetts disputes) and follows Kalshi's recent funding round that valued the company around $22 billion.

via WIRED|

#business #gambling-laws #kalshi

business11 months ago•2 min saved

Massachusetts Sues Kalshi Over Alleged Illegal Sports Betting

Kalshi, a prediction market platform, is prepared to defend itself against a Massachusetts lawsuit accusing it of offering unlicensed sports betting, arguing that its activities are regulated at the federal level by the CFTC and that the state's legal approach is outdated. The company emphasizes the importance of prediction markets as a 21st-century innovation and is fighting legal challenges in multiple states, amid broader industry developments including Polymarket's potential US re-entry.

via Cointelegraph|

#business #gambling-laws #kalshi