The legal odyssey regarding prediction markets versus games of chance continues. On Friday, Kalshi stumbled upon an island full of black-robed giants. Via the Associated Press, the U.S. Court of Appeals for the Ninth Circuit ruled Friday that federal commodity trading law does not preempt Nevada gaming law when it comes to regulating sports betting. other. Especially since the U.S. Court of Appeals for the Third Circuit has ruled that New Jersey cannot regulate Kalshi. A split between the various circuits often becomes a key factor in the Supreme Court’s decision to address a given issue. As AP noted, about 20 states are currently involved in litigation over the question of whether prediction markets can offer sports-related contracts independently of their gambling laws.
