US appeals court sides with Ohio and Tennessee against Kalshi
- —The Sixth Circuit held that Kalshi's sports-event contracts do not qualify as swaps under the Commodity Exchange Act
- —The court also ruled that federal law does not preempt state gambling statutes
- —On August 28, 2026, the Ninth Circuit backed Nevada in a similar case against Kalshi
- —In April 2026, the Third Circuit issued a favorable ruling for Kalshi in its dispute with New Jersey
Why it matters: The split among the Third, Sixth and Ninth Circuits raises the odds the US Supreme Court will eventually take up how event contracts are regulated.
Source: Crypto Briefing
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