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US states consider gambling bills as courts hear prediction-market disputes

Regulation

Lawmakers in several US states are scheduled to consider gambling measures during the week of 23 February 2026, while courts hear disputes involving prediction markets. The proposals cover casino gambling, online lotteries, sports betting and illegal gambling; the source also reports hearings involving Kalshi in Nevada and Coinbase in Illinois.

The bills and court cases could affect state gambling rules and the treatment of prediction-market products.

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Appeals courts deny Kalshi protection from state enforcement in three states

The Ninth Circuit on 3 November declined to rehear Kalshi’s challenge to Nevada’s treatment of its sports markets. Separately, the Second Circuit denied injunction requests by Kalshi and Coinbase, allowing authorities in New York and Connecticut to continue enforcement while appeals proceed; Kalshi has 90 days to seek Supreme Court review of the Nevada ruling.

The Ninth Circuit declined Kalshi's requests for a panel rehearing and a rehearing en banc concerning its Nevada ruling. Separately, the Second Circuit denied injunctions sought by Kalshi and Coinbase that would have stopped states enforcing gambling laws against their sports event contracts while the appeals continue.

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