MonitoringPolicyLegal caseFirst tracked 2026-09-25Last changed 2026-09-26
Current outcome
The 6th US Circuit Court of Appeals ruled against Kalshi, siding with Ohio and Tennessee that the prediction market's sports-event contracts fall under state gambling law rather than CFTC swap jurisdiction, deepening a circuit split and raising the likelihood of Supreme Court review.
Progress timeline
1 material updates- #01
Another appeals court rules against prediction market provider Kalshi, says sports contracts are subject to state regulations
The Sixth Circuit Court of Appeals ruled against Kalshi, holding that its sports-related event contracts are not swaps and are therefore subject to state gaming regulations instead of CFTC oversight, adding to a growing circuit split that may push the issue to the Supreme Court.
Source evidence: CoinDesk · CryptoSlate · The Block · Cointelegraph · BitKE