Kalshi Scores Win As Appeals Court Rules States Can't Block Sports Prediction Markets

Benzinga_recent_news04-07

Kalshihas won the first federal appeals court ruling on whether states can regulate prediction markets. The Third Circuit Court of Appeals on Monday ruled by 2-1 that the Commodity Exchange Act ...

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If the Fourth Circuit disagrees, that kind of split between appeals courts is exactly what sends a case to the Supreme Court.\nThe ruling lands four days after the Trump administration sued Arizona, Illinois and Connecticut to block state enforcement. \nThe federal government is now winning in court at the same moment it is suing the states trying to shut prediction markets down.\nWhile states fight to maintain their regulatory grip, the traditional operators they oversee are paying a steep price to play by the old rules.\nKalshi does none of that. If more circuits follow the Third, the cost advantage widens. The Ninth Circuit hears the consolidated Nevada case April 16.\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2625080016","isCrawlerRequest":true}