com/a/appeals-court-ruled-kalshi-sports-contracts-subject-to-state-gambling #Regulation #MergersAndAcquisitions #Kalshi #PredictionMarkets The Sixth Circuit Court of Appeals unanimously decided Kalshi's sports event contracts are not federally regulated swaps, allowing Ohio and Tennessee to apply their gambling laws to the platform.
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Appeals Court Ruled Kalshi Sports Contracts Subject to State Gambling Laws https://marthio.com/a/appeals-court-ruled-kalshi-sports-contracts-subject-to-state-gambling #Regulation #MergersAndAcquisitions #Kalshi #PredictionMarkets The Sixth Circuit Court of Appeals unanimously decided Kalshi's sports event contracts are not federally regulated swaps, allowing Ohio and Tennessee to apply their gambl
A unanimous three-judge panel of the 6th U.S. Circuit Court of Appeals ruled on Sept. 25 that Ohio and Tennessee may enforce their gambling laws against Kalshi’s sports-event contracts. The court said Kalshi had not shown the contracts qualify as “swaps” subject to exclusive federal oversight under the Commodity Exchange Act, and concluded that the act does not preempt state gambling laws. The dec