The Ninth Circuit Court of Appeals rules that Nevada may regulate Kalshi's sports-related event contracts under state gambling laws.

The Ninth Circuit Court of Appeals issued a unanimous 3-0 ruling that allows Nevada to regulate Kalshi's sports-related event contracts under state gambling laws. The court rejected requests for injunctive relief from Kalshi, Crypto.com, and Robinhood, concluding that sports-related event contracts are not

Sources

• Defector
  Kalshi Lawsuit Pits States Against Trump Family’s Corruption Machine
• CNBC
  U.S. appeals court rules against prediction markets, sets up likely fight at Supreme Court
• 5 EYEWITNESS NEWS
  US Supreme Court likely to decide prediction market future in Minnesota
• PYMNTS.com
  Ninth Circuit Hands States Victory in Prediction Market Jurisdiction Fight

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Paywall and unreadable sources

• The New York Times
  Prediction Markets Should Be Regulated as Gambling, Appeals Court Says