By SectorWire desk ·
The report said that the Ninth Circuit backed two California tribes on key aspects of their challenge to Kalshi and Robinhood on Wednesday. The outlet also reported that a proposal to change gambling tax deductions moved nearer to a House vote.
Kalshi and Robinhood face a Ninth Circuit ruling backing key aspects of two California tribes’ challenge.
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Coinbase must suspend Michigan prediction markets while Michigan withholds enforcement during compliance and related appeals.
Coinbase’s withdrawal follows Michigan enforcement against sports event contracts that regulators consider unauthorised sports betting.
The dispute pits state gambling enforcement against the CFTC’s claim of exclusive jurisdiction over sports-event contracts.
CNBC linked growing interest in Polymarket and Kalshi to football’s return and the approaching November election.
The ruling subjects disputed Nevada sports event contracts to gambling rules, while DraftKings and Flutter shares gained.
ESMA warns European operators face a different regulatory environment from the United States for prediction markets.