Appeals court upholds Nevada's authority to regulate Kalshi's sports-event contracts
A federal appeals court ruled that Nevada can enforce its gambling laws against Kalshi's sports betting products, rejecting the company's argument that federal commodity regulations preempt state oversight. The unanimous decision from three Trump-appointed judges affirmed a lower court's order, stating that sports bets remain gambling regardless of being labeled as swaps. The ruling allows Nevada's gaming control board to continue its cease-and-desist action against Kalshi and similar platforms.
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