By SectorWire desk ·
Kalshi sought relief from state enforcement as prediction market disputes increasingly reached federal appeals courts. Crypto.com agreed to wait for a Ninth Circuit ruling, while the CFTC moved towards new sector rules.
Operators seeking relief from state enforcement face federal appeals proceedings as the CFTC moves towards new sector rules.
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The Ninth Circuit upheld Nevada’s enforcement against Kalshi, rejecting federal financial regulation as protection from state gambling laws.
Kalshi faces a lawsuit seeking to stop its Connecticut sports contracts while contesting state gambling authority under federal oversight.
The ruling subjects disputed Nevada sports event contracts to gambling rules, while DraftKings and Flutter shares gained.
FanDuel and DraftKings face competition from Kalshi and Polymarket for sports betting customers as the NFL season approaches.
Kalshi is lobbying to maintain California platform access as DraftKings goes live in the state.
The lawsuit seeks protection for OG against prospective Washington enforcement.