States can regulate prediction markets as gambling, federal appeals court rules

States can regulate prediction markets as gambling, federal appeals court rules — Live Feedhttps://www.live-feeds.com/feed/states-can-regulate-prediction-markets-as-gambling-federal-appeals-court-rulesContinuously updated, source-cited coverage. Ninth Circuit Court Rules Kalshi Sports Markets Are Sports Bettinghttps://www.live-feeds.com/feed/states-can-regulate-prediction-markets-as-gambling-federal-appeals-court-ruleshttps://www.live-feeds.com/feed/states-can-regulate-prediction-markets-as-gambling-federal-appeals-court-rules#u53593Tue, 01 Sep 2026 06:16:11 +0000The Ninth Circuit Court of Appeals ruled that Kalshi's sports contracts constitute sports betting despite being offered through a federally regulated exchange. This unanimous decision permits Nevada gaming regulators to oversee the platform and rejects Kalshi's claim that federal commodities law preempts state oversight. The ruling establishes that states can regulate prediction markets as gambling, which affects how these platforms are licensed and taxed. This legal outcome arrives as the NFL season begins and Kalshi has entered brand partnerships with the San Diego Padres and three Federal appeals court affirms state authority to regulate prediction markets as gamblinghttps://www.live-feeds.com/feed/states-can-regulate-prediction-markets-as-gambling-federal-appeals-court-ruleshttps://www.live-feeds.com/feed/states-can-regulate-prediction-markets-as-gambling-federal-appeals-court-rules#u53239Mon, 31 Aug 2026 14:25:36 +0000A federal appeals court ruled on August 28 that states may regulate prediction markets as gambling, rejecting Kalshi's argument that federal commodities law preempts state oversight of sports-event contracts. The unanimous decision allows Nevada gaming regulators to oversee Kalshi's platform and prevents the company from blocking such regulation. This ruling creates a conflict between federal and state jurisdictions over whether these platforms offer financial products or gambling services, potentially impacting how the industry is taxed and licensed.Why it mattersPrediction platform Ninth Circuit rules states can regulate prediction markets as gamblinghttps://www.live-feeds.com/feed/states-can-regulate-prediction-markets-as-gambling-federal-appeals-court-ruleshttps://www.live-feeds.com/feed/states-can-regulate-prediction-markets-as-gambling-federal-appeals-court-rules#u52184Sun, 30 Aug 2026 08:20:37 +0000The 9th U.S. Circuit Court of Appeals ruled 3-0 that states possess the authority to regulate prediction markets as gambling. The court specifically found that sports-related event contracts are not "swaps," rejecting claims by platform operator Kalshi that such trades fall outside state oversight. This decision prevents Kalshi from restarting trading on sports and election events in Nevada and potentially enables Arizona to revive previous prosecutions. The ruling creates a circuit split with a Third Circuit decision, signaling a likely legal battle at the Supreme Court.Why it matte