Reuters · Jonathan Stempel ·

A US appeals court rules that Kalshi's sports contracts are not "swaps" subject only to CFTC regulation, allowing states to regulate them under gambling laws

A US appeals court on Friday ruled against the prediction markets operator Kalshi, saying states can regulate …

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A US appeals court rules that Kalshi's sports contracts are not "swaps" subject only to CFTC regulation, allowing states to regulate them under gambling laws

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Reuters — A US appeals court rules that Kalshi's sports contracts are not "swaps" subject only to CFTC regulation, allowing states to regulate them under gambling laws ↗

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Related stories

New York Times: An appeals court rules states can regulate prediction markets, finding Kalshi's sports event contracts are bets, not swaps, and subject to state gambling laws

Bloomberg: A judge orders Kalshi to stop offering most of its prediction contracts in Washington state, after finding it likely violated state gambling-related laws

NPR: The CFTC has launched a probe into prediction markets' "mention markets", prompting Kalshi to remove bets on word choices from sports-related offerings

Wall Street Journal: New York AG Letitia James sues Polymarket US, alleging that the site is illegally running a gambling operation, as part of NY's crackdown on prediction markets

Wall Street Journal: Flight tracking platform FlightAware sues Kalshi in New York, alleging Kalshi is using its data without permission to let users bet on flight cancellations

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