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Federal appeals court panel gives Nevada a win in its fight to regulate prediction market Kalshi
The 3-0 ruling says federal law likely does not block state gaming rules, deepening a split with the Third Circuit.
- The 9th U.S. Circuit Court of Appeals ruled that federal commodities trading law likely does not override Nevada's gambling regulations in governing Kalshi's sports event contracts.
- Nevada's Attorney General called the decision a major win, affirming that sports betting remains regulated under state gambling laws despite Kalshi labeling its offerings as 'event contracts'.
- The court sent the matter of Kalshi's election contract trading back to a lower court for further consideration of Nevada's challenges, while trading remains blocked in Nevada.
- Kalshi plans to seek further review of the decision.
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9 Articles
Federal appeals court panel gives Nevada a win in its fight to regulat
A federal appeals court panel on Friday refused to let prediction market operator Kalshi restart trading on sports and elections events in Nevada while it fights the state’s effort to shut it down until it gets a
·Baltimore, United States
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Associated Press News+4 Reposted by 4 other sources
Federal appeals court panel gives Nevada a win in its fight to regulate prediction market Kalshi
A federal appeals court panel is refusing to let prediction market operator Kalshi restart trading on elections and sporting events in Nevada while it fights the state’s effort to shut it down until it gets a license from state gambling regulators.
·New York, United States
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Coverage Details
Total News Sources9
Leaning Left3Leaning Right0Center6Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
Factuality
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