GoKawiil9th Circuit lets Nevada regulate Kalshi's prediction markets
The 9th US Circuit Court of Appeals rejected Kalshi's bid to stop Nevada from regulating its prediction market operations, siding with the state's gambling regulators and attorney general who sued Kalshi in February for allegedly operating without a sports gambling license. The ruling adds to a patchwork of conflicting state and federal legal outcomes for Kalshi, which also faces action from Connecticut, Rhode Island, New York and Arizona, even as a separate court found New Jersey lacks authority to regulate the platform.
GoKawiil's interpretation of the reporting above, not reported fact.
The conflicting rulings highlight an unresolved jurisdictional fight over whether states or the CFTC should oversee prediction markets, leaving companies like Kalshi and Polymarket operating under legal uncertainty state by state. Until a definitive federal ruling or legislation settles the matter, prediction market platforms could face a costly, fragmented patchwork of compliance battles across the country.
- 9th Circuit ruled Nevada can regulate Kalshi's prediction market activities
- Multiple states are challenging Kalshi's legality, with mixed court outcomes so far
- The core unresolved issue is whether states or the CFTC hold regulatory authority over prediction markets
Source: engadget.com — Jackson Chen, 2026-08-29
Published there as: “US appeals court sides with Nevada in legal fight with Kalshi”
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