Appeals court allows state regulation of prediction market platforms
The Hill · August 28, 2026Original source ↗
What happened
The 9th Circuit Court of Appeals ruled that states can regulate prediction market platforms as they do with gambling. The decision supports a lower court's ruling that permitted Nevada gaming regulators to oversee the prediction market Kalshi, which contended that only the federal government had jurisdiction.
Why it matters
This ruling establishes a legal framework for how states can manage prediction markets, impacting the industry and its participants.
How this story affects people
How does this story affect you if you participate in prediction markets?
This ruling means that your activities on platforms like Kalshi will now be subject to state regulations, which could affect how you place bets and the types of markets available to you. Increased regulation may lead to changes in fees, reporting requirements, and overall access to these platforms.
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