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[BUSINESS] · United States, Canada · 69 sources

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Part of situation: Escalating legal and regulatory challenges for Kalshi (153 clusters)

Ninth Circuit rules prediction market sports contracts are gambling

prediction markets sports betting Kalshi Ninth Circuit gambling regulation

The Ninth Circuit Court of Appeals has issued a unanimous 3-0 ruling against prediction market platform Kalshi, determining that its sports-related event contracts function as sports bets rather than federally regulated swaps. The court rejected Kalshi’s argument that the Commodity Exchange Act preempts state gaming laws, allowing Nevada to enforce its gambling regulations against the platform.

This decision marks a significant legal setback for prediction markets, which have sought to operate under the exclusive jurisdiction of the Commodity Futures Trading Commission (CFTC). While Kalshi maintains its contracts are financial derivatives, the court concluded they carry the hallmarks of traditional sports gambling. Kalshi has indicated its intention to appeal.

Simultaneously, regulators in British Columbia have clarified that many prediction market activities, including those on platforms like Polymarket and Kalshi, are considered unregulated gambling and are illegal within the province. Under B.C. law, online gambling is restricted to the PlayNow platform. In the United States, Connecticut has also filed legal action against Kalshi to prevent the offering of unlicensed sports betting contracts within its borders.

Entities

British Columbia · British Columbia Independent Gambling Control Office · Commodity Futures Trading Commission · Connecticut · Kalshi · Nevada · Nevada Gaming Control Board · Ninth Circuit Court of Appeals · Polymarket · William Tong

Claims

What the coverage asserts, and how many sources carry each claim.

Sources

U. S. appeals court rules against prediction markets, sets up likely fight at Supreme Court [www.formosadeportiva.com.ar]
Prediction market trading is gambling according to B. C. regulator - The Similkameen Spotlight [similkameenspotlight.com]
CFTC Signals Supreme Court Battle After Nevada Wins Prediction Markets Case [retailwit.com]
Court rules Kalshi sports bets aren't "swaps," just gambling with a different name [massive.news]
Prediction market trading is gambling according to B. C. regulator - Ladysmith Chronicle [ladysmithchronicle.com]
Prediction market trading is gambling according to B. C. regulator - Fort St. James Caledonia Courier [caledoniacourier.com]
Connecticut takes Kalshi to court [www.thegamblest.com]
Kalshi loses Nevada appeal over sports event contracts [bitcoinethereumnews.com]
Kalshi loses Nevada appeal over sports event contracts [crypto.news]
US-Gericht stuft Prognosemärkte als Glücksspiel ein: Folgen für Sportwetten-Plattformen [www.it-boltwise.de]
Batalha sobre mercados de previsão deve ir à Suprema Corte [www.spacemoney.com.br]
Ninth Circuit Panel Rules 3-0 Against Sports Event Contracts in Major Setback [fishduck.com]
Federal appeals court panel gives Nevada a win in its fight to regulate prediction market Kalshi [mymotherlode.com]
U. S. States Score Court Victory in Fight to Regulate Prediction Markets [internewscast.com]
Prediction market trading is gambling according to B. C. regulator [kimberleybulletin.com]
Prediction market trading is gambling according to B. C. regulator - The Interior News - Smithers BC [interior-news.com]
Prediction market trading is gambling according to B. C. regulator [lakecowichangazette.com]
Prediction market trading is gambling according to B. C. regulator [grandforksgazette.ca]
Prediction market trading is gambling according to B. C. regulator - Haida Gwaii Observer [haidagwaiiobserver.com]
Prediction market trading is gambling according to B. C. regulator - Williams Lake Tribune [wltribune.com]
Prediction market trading is gambling according to B. C. regulator [burnslakelakesdistrictnews.com]
Prediction market trading is gambling according to B. C. regulator [todayinbc.com]
Prediction market trading is gambling according to B. C. regulator [vancouverislandfreedaily.com]
Prediction market trading is gambling according to B. C. regulator [coastmountainnews.com]
Ninth Circuit Sides With Nevada on Sports Event Contracts [www.gaming.net]
Revés Judicial De Kalshi En Nevada Frente A La CFTC [www.criptotendencias.com]
Connecticut Processa Kalshi por Supostas Apostas Esportivas sem Licença [zonadeazar.com]
Prediction markets should be regulated as gambling, appeals court says - Hawaii Tribune-Herald [www.hawaiitribune-herald.com]
上訴法院裁定州可管預測市場，Kalshi 受挫、恐上最高法院 | 鏈新聞 ABMedia [abmedia.io]
Ninth Circuit Rules Kalshi Sports Contracts Are Gambling, Not Swaps [time.news]
第九巡迴法院打臉 CFTC！Kalshi 內華達案敗訴，預測市場管轄權大戰升級 [www.blocktempo.com]
States Can Regulate Prediction Markets As Gambling, Federal Appeals Court Rules - Slashdot [yro.slashdot.org]
Ninth Circuit Sides With Nevada, Rules Kalshi Sports Contracts Are Gambling — Not Federal ‘Swaps’ [californiaglobe.com]
Prediction market trading is gambling according to B. C. regulator - Port Alberni Valley News [albernivalleynews.com]
Prediction market trading is gambling according to B. C. regulator [terracestandard.com]
Prediction market trading is gambling according to B. C. regulator [peacearchnews.com]
Prediction market trading is gambling according to B. C. regulator - Tofino/Ucluelet Westerly News [westerlynews.ca]
Prediction market trading is gambling according to B. C. regulator [thenorthernview.com]
Prediction market trading is gambling according to B. C. regulator [lakecountrycalendar.com]
Prediction market trading is gambling according to B. C. regulator - Cranbrook Daily Townsman [cranbrooktownsman.com]
Prediction market trading is gambling according to B. C. regulator [clearwatertimes.com]
Prediction market trading is gambling according to B. C. regulator [langleyadvancetimes.com]
Prediction market trading is gambling according to B. C. regulator [saanichnews.com]
Prediction market trading is gambling according to B. C. regulator - Abbotsford News [abbynews.com]
Prediction market trading is gambling according to B. C. regulator [missioncityrecord.com]
Prediction market trading is gambling according to B. C. regulator - Surrey Now-Leader [surreynowleader.com]
Prediction market trading is gambling according to B. C. regulator [cloverdalereporter.com]
Prediction market trading is gambling according to B. C. regulator [houston-today.com]
Prediction market trading is gambling according to B. C. regulator [mapleridgenews.com]
Prediction market trading is gambling according to B. C. regulator [crestonvalleyadvance.ca]
Prediction market trading is gambling according to B. C. regulator [revelstokereview.com]
Prediction market trading is gambling according to B. C. regulator [sookenewsmirror.com]
Prediction market trading is gambling according to B. C. regulator [vernonmorningstar.com]
Prediction market trading is gambling according to B. C. regulator - Goldstream News Gazette [goldstreamgazette.com]
Prediction market trading is gambling according to B. C. regulator [peninsulanewsreview.com]
Prediction market trading is gambling according to B. C. regulator - Parksville Qualicum News [pqbnews.com]
Prediction market trading is gambling according to B. C. regulator - Kelowna Capital News [kelownacapnews.com]
NFL Season Poised to Send Prediction Market Volume Skyrocketing [www.covers.com]
Court Says States Can Regulate Prediction Markets as Gambling [www.nbcpalmsprings.com]
U. S. Appeals Court Rules Against Prediction Markets, Says Sports Contracts Are Sports Bets [coingape.com]
States can regulate prediction markets as gambling, federal appeals court rules [krdo.com]
States can regulate prediction markets as gambling, federal appeals court rules [abc17news.com]
States can regulate prediction markets as gambling, federal appeals court rules [localnews8.com]
Ninth Circuit rules against Kalshi in 3-0 vote, letting Nevada enforce gaming laws on prediction markets [cryptobriefing.com]
CFTC Signals Supreme Court Battle After Nevada Wins Prediction Markets Case [www.pymnts.com]
Federal appeals court panel gives Nevada a win in its fight to regulate prediction market Kalshi [www.newsday.com]
States can regulate prediction markets as gambling, federal appeals court rules [kesq.com]
Kalshi dealt major setback by court ruling [mashable.com]
Court hands U. S. states a win in fight over who regulates prediction markets [www.cbsnews.com]