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Ninth Circuit allows Nevada to apply gambling laws to Kalshi sports contracts

Regulation

The Ninth US Circuit Court of Appeals ruled on 28 August that Nevada can regulate Kalshi’s sports event contracts under state gambling laws. The unanimous decision rejected Kalshi’s argument that federal commodities law prevents state regulation and upheld the lifting of an injunction that had allowed the company to continue offering the contracts. Kalshi said it plans to seek further judicial review.

The ruling gives Nevada regulators room to pursue enforcement against Kalshi’s sports contracts.

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Regulation

Ninth Circuit denies Kalshi rehearing petition in Nevada prediction-markets case

The US Court of Appeals for the Ninth Circuit denied Kalshi’s requests for panel rehearing and rehearing en banc in its Nevada case, leaving the ruling dissolving the preliminary injunction against Nevada gaming regulators in place. Kalshi has 90 days to petition the US Supreme Court; the sports-event contract ban remains in effect in Nevada, and the company says the ruling exposes it to civil and criminal liability.

On Wednesday, the Ninth Circuit turned down Kalshi's request to have the case reconsidered by the panel or by the full court. No judge asked for a full-court vote. The panel was unanimous in declining to rehear the matter, per the decision.

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