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Kalshi rejects treating its sports contracts as traditional bets

Regulation

Kalshi said its sports event contracts should not be treated as traditional sports bets, arguing that users trade against one another through an order book while the platform earns transaction fees. The company favours federal oversight by the Commodity Futures Trading Commission, while states challenging its activity argue that the contracts fall under state gambling laws.

The dispute may affect whether prediction-market operators face federal financial oversight or state gambling rules.

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Federal judge bars Kalshi sports contracts on suing California tribes’ lands

US District Judge Jacqueline Scott Corley granted a preliminary injunction in Blue Lake Rancheria v. Kalshi in California on Wednesday. The order bars Kalshi from offering sports contracts on the plaintiff tribes’ lands and requires the tribes to provide boundary maps by 13 November; Kalshi must report its compliance steps within 21 days.

A San Francisco federal judge has blocked Kalshi from listing sports event contracts on land belonging to the California tribes that are suing it. Judge Jacqueline Scott Corley, who sits in the Northern District of California, granted the tribes a preliminary injunction on Wednesday in the case Blue Lake Rancheria v. Kalshi.

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