Federal appeals court rules that states can regulate betting markets — Live Feedhttps://www.live-feeds.com/feed/federal-appeals-court-rules-that-states-can-regulate-betting-marketsContinuously updated, source-cited coverage. Federal appeals court rules states can regulate betting marketshttps://www.live-feeds.com/feed/federal-appeals-court-rules-that-states-can-regulate-betting-marketshttps://www.live-feeds.com/feed/federal-appeals-court-rules-that-states-can-regulate-betting-markets#u53482Tue, 01 Sep 2026 03:15:27 +0000A federal appeals court has ruled that states have the authority to regulate prediction markets as gambling, rejecting Kalshi's claim that federal commodities law preempts state oversight. The unanimous decision by the Ninth Circuit Court of Appeals prevents Kalshi from operating sports and election trading in Nevada without a state gambling license. This ruling characterizes prediction market contracts as gambling rather than swaps.Why it mattersThe decision intensifies a legal dispute over whether prediction markets are financial products regulated by Washington or state-controlled gamb Ninth Circuit rules Nevada can regulate Kalshi sports contracts as gamblinghttps://www.live-feeds.com/feed/federal-appeals-court-rules-that-states-can-regulate-betting-marketshttps://www.live-feeds.com/feed/federal-appeals-court-rules-that-states-can-regulate-betting-markets#u53068Mon, 31 Aug 2026 11:26:05 +0000A federal appeals court ruled on August 28 that Nevada has the authority to regulate prediction markets as gambling. The unanimous decision rejects Kalshi's claim that federal commodities law preempts state oversight of its sports-event contracts. This ruling prevents the platform from operating sports and election trading in Nevada without a state gambling license. The court characterized these contracts as gambling rather than swaps, intensifying a legal dispute over whether prediction markets are financial products regulated by Washington or state-controlled gambling operations.Why it 9th Circuit Rules States Can Regulate Prediction Markets as Gamblinghttps://www.live-feeds.com/feed/federal-appeals-court-rules-that-states-can-regulate-betting-marketshttps://www.live-feeds.com/feed/federal-appeals-court-rules-that-states-can-regulate-betting-markets#u51845Sat, 29 Aug 2026 14:05:22 +0000A 9th U.S. Circuit Court of Appeals panel ruled that states have the authority to regulate prediction markets as gambling. The 3-0 decision prevents prediction market operator Kalshi from restarting trading on sporting and election events in Nevada without a state gambling license. The court rejected Kalshi's argument that its sports-related event contracts are "swaps," instead characterizing them as gambling under a different name. This ruling creates a circuit split with a previous Third Circuit decision, increasing the likelihood of a Supreme Court review.Why it mattersPredic