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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The 9th Circuit's
Expanded detail and Context are AI-generated analysis; the linked article remains the authoritative source.
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This summary is AI-generated and original to Mobble; the linked article is the authoritative source.
Original headline: “Kalshi can't evade Nevada gambling laws by calling bets "swaps," court rules.” Browse more stories.