✉news WorldLaw & Courts first seen 5 h ago, last 11 min ago, peak #1
Federal court says Kalshi must follow 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 operator Kalshi is subject to Tennessee's gambling laws in relation to its sports event contracts. The decision means the company cannot treat its sports offerings as federally regulated financial products exempt from state gambling regulation in Tennessee. It marks a setback for Kalshi's efforts to expand sports event trading across US states and could prompt similar challenges elsewhere.
Why now: The ruling has immediate implications for Kalshi's sports contract business and the wider legal fight over prediction markets versus state gambling regulation.
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- Federal court rules Kalshi is subject to Tennessee’s gambling laws for sports contracts · Tennessee Lookout
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