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Sixth Circuit Lets Ohio, Tennessee Regulate Kalshi Sports Contracts
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- Published
- Sep 27, 2026, 4:57 AM UTC
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Reuters and CNBC frame the ruling as a state-empowerment decision, while the New York Post calls it a major blow to Kalshi and the industry.
A federal appeals court says Kalshi has not shown that its sports event contracts are swaps protected from state gambling regulation.
The ruling deepens a split among federal appeals courts over whether states or the Commodity Futures Trading Commission can oversee Kalshi’s event contracts.