← A Panel of Three Trump Appointees Rules That Kalshi’s Sports Contracts Are Gambling, Not Swaps — Handing Nevada the Power to Regulate Prediction Markets, Splitting With the Third Circuit, and Sending the Whole Fight Toward the Supreme Court
“The Ninth Circuit affirmed what Nevadans have always known: prediction markets are gambling. This is an important victory for States’ and Tribes’ authority to regulate gambling. But the fight is not over.
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