Regulation· ★★★★· neutral·

Kalshi Seeks Full Sixth Circuit Review of Prediction Market Ruling

  • —A Sixth Circuit panel ruled on September 25 that Kalshi's sports contracts are not swaps
  • —The CFTC proposed on October 9 to include event contracts in the federal swap definition, opening 30 days of comment
  • —A separate CFTC interim rule excludes casino and sportsbook wagers from the swap definition
  • —The Third Circuit sided with Kalshi, while the Ninth Circuit backed Nevada regulators
Why it matters: The outcome will determine whether states can ban sports prediction markets, shaping the entire US event-contract sector.
Source: CoinGape
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