6th Circuit Rules Against Kalshi, Allows States to Regulate Prediction Markets as Gambling
The Hill1 min read88 words
The 6th U.S. Circuit Court of Appeals ruled against Kalshi on Friday, determining that states can regulate prediction market platforms like gambling. The decision represents a significant setback for the industry.
In a unanimous ruling, the three‑judge panel sided with Ohio and Tennessee, finding Kalshi did not show its sports‑event contracts are “swaps” that typically… The court’s decision allows states to treat prediction markets as gambling for regulatory purposes. The 6th U.S. Circuit Court of Appeals ruled against Kalshi, allowing states to regulate prediction market platforms like gambling.
🤖 AI-generated content — This article was automatically summarised from public RSS feeds by AutoBrief. Verify important information with the original source.