Prediction market Kalshi lost its appeal at the 6th US Circuit Court, siding with Ohio and Tennessee. This ruling allows states to regulate sports-event contracts, possibly leading to a Supreme Court challenge for the platform.
The 6th US Circuit Court of Appeals recently ruled against Kalshi, an online platform allowing users to bet on future events, often called a prediction market. The court agreed with Ohio and Tennessee, stating these states can regulate Kalshi's sports-event contracts under their own laws. This decision limits how Kalshi can operate across the nation. The ruling is a significant setback for Kalshi and might push the platform to appeal to the Supreme Court for a final decision on how prediction markets are governed in the United States.
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