Ninth Circuit rejects Kalshi exemption from state sports betting laws
By SectorWire desk ·
Summary
The Ninth Circuit unanimously ruled against Kalshi on Friday. All three judges concluded that state sports betting laws should apply to Kalshi’s sports markets. Law professor Melinda Roth nevertheless identified aspects of the judgment that could support Kalshi’s position.
Why it matters
The unanimous ruling subjects Kalshi’s sports markets to state sports betting laws, although Roth identified aspects potentially supporting Kalshi.