Business 22 sources · over 17 days 40 articles

Federal Court Rules States Can Regulate Kalshi's Prediction Markets as Gambling

A recent ruling by the Ninth Circuit Court of Appeals allows states to treat Kalshi's sports prediction markets as gambling, sparking legal battles and raising questions about the industry's national future.

Read the full story → · Latest coverage 2 Sept 2026, 6:17 pm UTC

Key moments · 9

Kalshi faces regulatory setbacks in Nevada, Connecticut

ReadWrite Tech ↗

Kalshi asks court to halt Connecticut gambling enforcement

ReadWrite Tech ↗

Kalshi files to offer perpetual equity index futures

CNBC ↗

Connecticut sues Kalshi over unlicensed sports betting

ReadWrite Tech ↗

Court rules states can regulate prediction markets as gambling

cnn.com ↗

Ninth Circuit says Kalshi sports bets are gambling

CNBC ↗

Kalshi board member: Ninth Circuit ruling brings confusion

Bloomberg ↗

New Jersey asks Supreme Court to review prediction markets

CNBC ↗

Supreme Court petition could decide Kalshi's fate

NPR News ↗

Coverage by day

newest first

3 articles

  1. New Jersey asks Supreme Court to resolve fight over Kalshi's future
    NPR News
  2. New Jersey asks the Supreme Court to take on prediction markets
    CNBC
  3. New Jersey asks US Supreme Court to assess power to regulate sports bets on Kalshi
    World News CNA

4 articles

  1. Kalshi Says It's a Prediction Market. The 9th Circuit Says It's Gambling.
    Reason
  2. States cite Ninth Circuit rulings, George Santos banned from Kalshi: today in prediction market news LIVE
    ReadWrite Tech
  3. Kalshi Ninth Circuit ruling threatens federal prediction market model
    ReadWrite Tech
  4. Kalshi urges targeted CFTC rules to curb prediction market manipulation risks
    ReadWrite Tech

3 articles

  1. Ninth Circuit Opinion Provided 'More Confusion Than Clarity,' Said Kalshi Board Member
    Bloomberg
  2. Kalshi official reacts to oversight ruling against company
    CBS Top Stories
  3. Federal appeals court rules Kalshi's sports prediction markets are gambling
    TechSpot

2 articles

  1. US appeals court sides with Nevada in legal fight with Kalshi
    https://www.engadget.com/ Tech
  2. Ninth Circuit Rules Kalshi Sports Contracts Are Gambling, Not Swaps
    Time.news

11 articles

  1. 9th Circuit sides with states in Kalshi gambling fight
    Hacker News: Front Page Startups
  2. Court ruling deals Kashi major setback
    Mashable Tech
  3. An appeals court rules states can regulate prediction markets, finding Kalshi's sports event contracts are bets, not swaps, and subject to state gambling laws (Lauren McCarthy/New York Times)
    Techmeme
  4. Prediction Markets Can Be Regulated as Gambling, Federal Appeals Court Rules
    Time.news
  5. Prediction Markets Should Be Regulated as Gambling, Appeals Court Says
    NYT > Technology