On the 25th, the U.S. Court of Appeals for the Sixth Circuit ruled that states have the authority to regulate sports-related event contracts on prediction market platforms. This decision pertains to a lawsuit filed by prediction market Kalshi against the authorities of Ohio and Tennessee.
Kalshi contested the orders from regulatory authorities in both states to cease offering sports-related event contracts, arguing that their sports event contracts fall under the Commodity Exchange Act (CEA)...