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Sixth Circuit allows Ohio and Tennessee to regulate Kalshi sports contracts

Regulation

The US Sixth Circuit Court of Appeals ruled for Ohio and Tennessee in consolidated cases concerning Kalshi’s sports event contracts, according to the report. The unanimous decision found Kalshi had not shown that the contracts qualified as swaps under federal law and said the Commodity Exchange Act would not override state gambling laws even if they did.

The ruling supports Ohio and Tennessee applying state gambling laws to Kalshi’s 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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