US Court Rules States Can Regulate Kalshi
A federal appeals court ruled that Ohio and Tennessee can regulate Kalshi event contracts under gambling laws. The decision deepens a split over state versus federal oversight.
A United States appeals court ruled on Friday against prediction markets operator Kalshi, allowing Ohio and Tennessee to enforce state gambling laws on event contracts. The decision deepens a federal circuit split over state versus federal oversight of the industry. The ruling increases pressure on the Supreme Court to resolve regulatory authority over fast-growing prediction markets.
