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Ninth Circuit says Nevada can regulate Kalshi sports contracts under gaming law

Regulation

The Ninth US Circuit Court of Appeals ruled that Nevada can require a gaming licence for Kalshi sports-event contracts, finding Kalshi unlikely to show that federal law pre-empts the state requirement. Kalshi said it would seek further review and maintained that federal rules permit sports contracts; Nevada regulators are also pursuing contempt proceedings and a previously ordered daily penalty.

The ruling supports Nevada’s authority to require gaming licences for Kalshi sports-event contracts.

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Regulation

Ninth Circuit revives tribes’ lawsuit over Kalshi sports contracts

The Ninth US Circuit Court of Appeals revived a lawsuit by Blue Lake Rancheria and Chicken Ranch Rancheria alleging that Kalshi offered unauthorised gambling to people on their California reservations. The unanimous panel said sports contracts could be treated as wagers despite their contractual label, but did not order Kalshi to stop offering them; it returned the case to the district court.

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