PolicyArs Technicaabout 3 hours ago
Kalshi Loses Appeal as States Enforce Gambling Laws
1 min read
A federal appeals court ruled unanimously Friday that Ohio and Tennessee can enforce gambling laws against prediction market Kalshi. The Sixth Circuit panel found Kalshi's sports wagers are not swaps, so the CFTC lacks exclusive jurisdiction. This follows similar losses in other circuits, threatening Kalshi's state-by-state operations.
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