justice Cincinnati, United States
US appeals court allows states to regulate Kalshi event contracts
3judges
The ruling was issued by a unanimous panel of three judges.
The 6th US Circuit Court of Appeals ruled that Ohio and Tennessee can regulate Kalshi’s event contracts under their gambling laws. The ruling adds to a split among federal appeals courts over prediction-market regulation.
1 sourceAl JazeeraUpdated
Also: Ohio
Claims
Support what holds up. Dispute what doesn't.
The 6th US Circuit Court of Appeals ruled that states can regulate prediction markets.
“A United States appeals court has found that states can regulate prediction markets”
The court ruled against Kalshi’s bid to exempt event contracts from state gambling laws.
“ruling against a bid by the company Kalshi to exempt so-called event contracts from state gambling laws”
Ohio can regulate Kalshi’s event contracts under its gambling laws.
“Ohio and Tennessee can regulate event contracts under their gambling laws”