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The ruling deepens a federal appellate split over whether states can regulate prediction markets trading. The Sixth Circuit resolved appeals arising in Ohio and Tennessee by ruling that sports-related event contracts on the Kalshi predictions mark...
A federal appeals court ruled on Friday that Kalshi’s sports-related event contracts are not swaps, a decision that clears the way for Ohio and Tennessee to regulate the prediction-market
Kalshi prediction markets face conflicting appeals court rulings, leaving state gambling laws and federal oversight at odds across the US.