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Kalshi sues Tennessee over sports event contracts

Regulation

Kalshi sued the Tennessee Sports Wagering Council and state officials in federal court on 9 January, challenging the state’s treatment of its sports event contracts. Judge Aleta Trauger issued a temporary restraining order on 12 January, allowing Kalshi to continue offering the contracts in Tennessee while the case proceeds.

The order temporarily allows Kalshi to offer sports event contracts in Tennessee despite the regulator’s enforcement notice.

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Regulation

CFTC proposes swap classification for sports and political event contracts

The CFTC proposed rule changes on 9 October to classify sports, political, cultural and weather event contracts as swaps under US federal law. The proposal would explicitly include these contracts in the agency’s rules.

The Commodity Futures Trading Commission (CFTC) has proposed amending its rules so that event contracts based on sports, politics, culture and weather are explicitly included in the definition of a swap under federal law. The proposal was announced on 9 October, according to the regulator, and a public consultation has been opened before the agency decides whether to adopt the change.

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