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Sixth Circuit says states can regulate Kalshi's prediction market
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- Published
- Sep 26, 2026, 10:21 AM UTC
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Current United States federal appellate court
The United States Court of Appeals for the Sixth Circuit is a federal court with appellate jurisdiction over the district courts in the following districts:Eastern District of Kentucky Western District of Kentucky Eastern District of Michigan Western District of Michigan Northern District of Ohio Southern District of Ohio Eastern District of Tennessee Middle District of Tennessee Western District of Tennessee
More on Wikipedia ↗American online prediction gambling company
Kalshi Inc. is a prediction market platform based in Manhattan, New York City, that launched in July 2021. The platform is used primarily for sports betting, which constitutes more than 90% of site activity and 89% of revenue in 2025. Analysts describe activity on the platform as "heavily tied to the sports calendar". Individuals can place bets on other future outcomes, including economic indicators, weather patterns, awards, political and legislative outcomes, and military conflicts.
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The ruling deepens a split among the U.S. circuit courts regarding federal preemption of the prediction markets, increasing the likelihood the Supreme Court will grant review and resolve the issue.
Another federal appeals court has ruled against Kalshi in the battle over regulation of prediction markets involving sports wagers.
A federal appeals court ruled Ohio can enforce its sports gambling laws against Kalshi, rejecting the company’s federal regulation argument.