Kalshi scored a win in the first ruling among a sweep of lawsuits from US states seeking to restrict prediction markets, as a federal appeals court rejected New Jersey’s attempts to ban sports bets on the platform. In a 2-1 decision on Monday, a panel of judges on the Philadelphia-based 3rd US Circuit Court of Appeals ruled that the US Commodity Futures Trading Commission, or CFTC, has exclusive authority over prediction markets like Kalshi and Polymarket – not state regulators. The company is currently being sued for refusing to pay out the bets on a market linked to Khamenei’s ouster after he was killed in US-Israeli air strikes at the start of the war on Feb. 28.
Author: Taylor Herzlich
Published at: 2026-04-06 21:34:06
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