Court Rules New Jersey Regulators Cannot Bar Kalshi from Offering Sports Event Contracts
A court has ruled that New Jersey regulators do not have the authority to prevent Kalshi, a prediction market platform, from offering contracts related to sports events.
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New Jersey cannot regulate Kalshi’s prediction market, federal appeals court rules
Commodity Futures Trading Commission has exclusive jurisdiction over sports event contracts, a ‘big win’ for Kalshi Sign up for the Breaking News US email to get newsletter alerts in your inbox A federal appeals court ruled on Monday that New Jersey gaming regulators cannot prevent Kalshi from allowing people in the state to use its prediction market to place financial bets on the outcome of sporting events. A three-judge panel of the Philadelphia-based third US circuit court of appeals rul...
By Reuters
Read full article →New Jersey cannot regulate Kalshi's prediction market, U.S. appeals court rules
The ruling marked the first time a federal appeals court has ruled on what has become the central issue in an escalating battle over the ability of state gaming regulators to police the activity of prediction market operators.
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