Regulation· ★★★· bearish·

Kalshi loses appeal, must geoblock Ohio and Tennessee users from sports contracts

  • —Court rejected Kalshi's argument that federal CFTC oversight preempts state gambling laws
  • —Judges pointed to geofencing as a viable way to satisfy both federal and state rules
  • —It is Kalshi's second appellate loss against state regulators
  • —Kalshi will lose sports-segment revenue from Ohio and Tennessee users
Why it matters: The ruling sets a precedent that could embolden more states to restrict prediction markets and limit Kalshi's US expansion.
Source: CriptoTendencias
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