{"id":3156,"date":"2026-08-28T20:40:54","date_gmt":"2026-08-28T20:40:54","guid":{"rendered":"https:\/\/modernhomejournals.com\/?p=3156"},"modified":"2026-08-28T20:40:54","modified_gmt":"2026-08-28T20:40:54","slug":"federal-court-says-states-can-regulate-prediction-market-sites","status":"publish","type":"post","link":"https:\/\/modernhomejournals.com\/?p=3156","title":{"rendered":"Federal Court Says States Can Regulate Prediction Market Sites"},"content":{"rendered":"
\n
\n<\/div>\n
\n

States can regulate prediction market platforms as a form of gambling, the 9th Circuit Court of Appeals Friday, opening the door for state-by-state regulation of companies like Kalshi.<\/p>

Read more Trump Plans to Freeze Civilian Federal Worker Pay for Next Year<\/a><\/p>

The ruling from a three-judge panel of Trump appointees upends the status quo for prediction market sites that had, up until this week, been only subject to federal regulations.<\/p>\n

\u201cThe substance of the sports event contracts offered on Kalshi\u2019s DCM is sports gambling, regardless of whether Kalshi calls them swaps,\u201d the ruling reads. \u201cJust as \u2018that which we call a rose by any other name would smell as sweet,\u2019 … placing sports bets, even when called by another name, is still gambling.\u201d<\/p>

Prediction markets like Kalshi allow users to place wagers on the outcome of a wide array of events, and have long maintained they are legally distinct from gambling and are solely subject to regulation by the Commodity Futures Trading Commission. The company is expected to appeal the ruling.<\/p>

Read more Trump Pushes Major Meatpacking Change Just Days After Plea From Glenn Beck<\/a><\/p>\n

\n
\n

\nTrending<\/span>\n<\/h2>\n<\/div>\n
\n
\n