The panel found Kalshi’s sports contracts are not swaps because their events carry no inherent financial, economic or commercial consequence. The Commodity Exchange Act would leave both states’ gambling laws intact even if the contracts counted as swaps, the court held. Kalshi lost its bid … Read more
Only futures commission merchants and participants Klear admits as self-clearing members could carry margined positions. Event contracts built on sporting contests are excluded entirely from the proposed margin treatment. Kalshi also plans to keep its culture and mention markets off margin trading. The earliest the … Read more
The Ninth Circuit reversed a lower court’s denial of an injunction, siding with the Blue Lake Rancheria and Chicken Ranch Rancheria tribes against Kalshi. The panel held that on tribal land Kalshi’s sports-event contracts amount to Class III gaming, the category the Indian Gaming Regulatory … Read more
WASHINGTON – Wednesday marked a massive development in the prediction market-sports event contract saga. The U.S. Supreme Court has officially been asked to review the sports prediction market case where Kalshi and states disagree on regulation. New Jersey Attorney General Jennifer Davenport filed the petition … Read more
LAS VEGAS – The U.S Court of Appeals for the Ninth Circuit affirmed a decision to dissolve a Kalshi temporary injunction, allowing Nevada to impose their state gambling laws on Kalshi’s sports event contracts. The three-judge panel decided that the sports event contracts weren’t swaps … Read more
NEW YORK – The Commodity Futures Trading Commission (CFTC) have exercised their emergency powers just six times ever and haven’t done so since 1980. Now, CFTC Chairman Michael Selig has implemented emergency orders twice in the last 30 days to support Kalshi. Kalshi is battling … Read more
SALT LAKE CITY– Utah can enforce their anti-gambling laws against Kalshi, a federal judge in Utah ruled on Tuesday. The judge rejects Kalshi’s argument that federal regulation includes their sports event contracts and prevents state intervention. Judge Rules Against Kalshi In Utah In simple terms, … Read more
The deal covers Water Street Labs and CX Clearinghouse, two CFTC-registered entities BGC Group is selling. Water Street Labs lists contracts and CX Clearinghouse settles them, neither licensed nor overseen by state gaming regulators. Fanatics Markets launched in December 2025 through a Crypto.com partnership and … Read more
Kalshi must finish a GeoComply geofencing rollout in Nevada by Aug. 12 or face a $120,000 daily penalty. The stipulation lets Kalshi submit a sworn affidavit explaining any delay instead of paying that daily penalty. Kalshi acknowledged state investigators placed prohibited trades but did not … Read more
Washington won a preliminary injunction against Kalshi in a King County Superior Court order filed July 20. The order holds the Commodity Exchange Act does not preempt Washington gambling law on express, field or conflict grounds. It reads federal law to allow event contracts to … Read more
WASHINGTON – The man who often made the final touches to President Donald Trump’s speeches allegedly made more than $100,000 betting on those same speeches with Kalshi, a prediction market operator. Gabriel Perez wagered on the “Mentions” market at the popular prediction market, betting on … Read more
DETROIT – Kalshi has got themselves into quite a pickle, being forced to choose between violating state law or violating federal law based on recent developments. A Michigan court order prevented Kalshi from offering sport event contracts in the state, but the CFTC rejected an … Read more