Federal appeals court backs CFTC authority over Kalshi in New Jersey
A federal appeals court ruled on 6 April that the CFTC has exclusive jurisdiction over Kalshi’s sports event contracts, preventing New Jersey regulators from stopping the platform in the state. The 2-1 panel upheld a 2025 lower-court ruling; the decision adds to conflicting court rulings that could ultimately reach the US Supreme Court.
The ruling limits New Jersey’s ability to enforce state gambling rules against Kalshi’s event contracts.