Ninth Circuit upholds Nevada’s authority over Kalshi sports contracts
By SectorWire desk ·
Summary
A three-judge Ninth Circuit Court of Appeals panel ruled on Friday that federal commodities law does not override state gambling regulation. The ruling opposed Kalshi’s effort to prevent Nevada gaming regulators from acting against its prediction market operations.
Why it matters
The ruling allows Nevada regulators to act against Kalshi’s prediction market operations despite its federal commodities law argument.