Regulation· ★★★· neutral·

US sports prediction contract fight may reach Supreme Court

  • —The 9th Circuit in August allowed Nevada to regulate Kalshi's sports contracts as gambling
  • —The 6th Circuit on the 25th backed Ohio and Tennessee, ruling the contracts are not swaps
  • —The 3rd Circuit found New Jersey regulation may intrude on CFTC jurisdiction
  • —Behnam: without the CLARITY Act, CFTC spot oversight is held together by 'tape and paper clips'
Why it matters: The outcome will decide whether the CFTC or states oversee US prediction markets, affecting Kalshi, Robinhood and Crypto.com.
Source: TokenPost
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