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Ninth Circuit backs California tribes in Kalshi event-contract dispute

Regulation

The US Court of Appeals for the Ninth Circuit ruled unanimously for the Blue Lake Rancheria Indians and the Chicken Ranch Rancheria of the Me-Wuk Indians in their dispute with Kalshi and Robinhood. The court found the tribes had valid grounds to argue that Kalshi’s sports-event contracts could violate their rights under federal law; it sent the case back to the lower court and did not order Kalshi to stop offering contracts in California.

The ruling leaves the lower court to assess claims that could affect event-contract offerings on tribal lands in California.

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Ninth Circuit rules in tribal gaming interests' favour in prediction market dispute

It was reported that the Ninth Circuit ruled in favour of tribal gaming interests a day after the Senate failed to advance the CLARITY Act. The outlet said the prediction market dispute remains unresolved at the CFTC.

Two California Tribes, Blue Lake Rancheria and Chicken Ranch Rancheria, persuaded the Ninth Circuit that their IGRA claim against Kalshi is likely to prevail, and the appellate court reversed the district court on the central legal questions. That outcome arrived one day after the Senate declined to move the Digital Asset Market Clarity Act (CLARITY Act) forward. The dispute now goes back before the district court in the Blue Lake matter, while the larger question of the Commodity Futures Trading Commission's (CFTC) authority remains open.

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