Third Circuit hears Kalshi dispute with New Jersey over sports contracts

The US Court of Appeals for the Third Circuit was due to hear arguments in Kalshi’s dispute with New Jersey regulators over sports event contracts, according to the report. Kalshi’s Sara Slane argued that restricting the markets could affect derivatives regulation; New Jersey is expected to argue that the offerings are unlicensed betting. The report says the hearing follows a preliminary injunction allowing Kalshi to continue operating in the state.