OtherKalshi loses again as court rules prediction markets must follow gambling laws
A unanimous three-judge panel of the US Court of Appeals for the Sixth Circuit ruled that Ohio and Tennessee may enforce their gambling laws against prediction market Kalshi. The court said Kalshi’s sports-event contracts do not meet the legal definition of swaps and therefore are not shielded by the CFTC’s exclusive jurisdiction. Even if they were swaps, the Commodity Exchange Act would not preempt the states’ gambling laws.
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Ars Technica★★★☆☆2026-09-28 19:04Original
Kalshi loses again as court rules prediction markets must follow gambling laws
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