New Jersey has no right to ban Kalshi's prediction market, US appeals court rules
A US appeals court ruled that New Jersey cannot regulate Kalshi's prediction market, stating that authority rests with the Commodity Futures Trading Commission. The ruling favors prediction markets, which allow users to bet on various outcomes, including sports events. This decision marks a significant federal-level victory for companies like Kalshi against state-level regulatory challenges.
- Entities
- Company: Commodity Futures Trading Commission
- Topic: Sports Betting
- Person: Jane Richards Roth
- Company: New Jersey
- Company: Kalshi
- Person: Tarek Mansour
- Company: FanDuel Casino
- Topic: Prediction Markets
- Company: DraftKings
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