✉news WorldLaw & Courts first seen 16 h ago, last 5 h ago, peak #22
Kalshi loses appeals court ruling on state regulation of prediction markets
Prediction market operator Kalshi has lost a ruling at the appeals court level concerning whether state regulators can oversee its prediction markets. The decision means states may retain authority to regulate or restrict certain event contracts, a setback for Kalshi's argument that federal law preempts state oversight of its business. The ruling is likely to shape ongoing disputes between prediction market platforms and state gaming and securities regulators.
Why now: An appellate ruling against Kalshi affects how prediction markets can operate across US states, drawing attention from the betting and finance industries.
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