A federal appeals court has rejected Kalshi's appeal over its compliance with Ohio and Tennessee sports betting laws. The ruling means Kalshi must comply with the laws, which could impact its operations in those states. The court's decision widens a split between federal appeals courts over how to classify Kalshi's sports event contracts.
This article is Bitcoincryptos' summary and analysis of reporting originally published by The Block. Read the full original report at the link above.
The Commodity Exchange Act requires certain contracts to be registered with the Commodity Futures Trading Commission. Kalshi argued its contracts were swaps under the act, but the court disagreed, stating the company failed to provide sufficient evidence to support its claim.
