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Federal Appeals Court Shields Sports Prediction Markets From New Jersey Gambling Law
A U.S. appeals court has ruled that Kalshi's sports-related event contracts fall under federal commodities oversight, limiting states' ability to treat them like ordinary sports betting.
Key Takeaways
- The 3rd Circuit upheld an injunction blocking New Jersey from enforcing state gambling law against Kalshi.
- The majority said Kalshi's sports-related event contracts are swaps traded on a CFTC-licensed market.
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DT Editorial Team··via arstechnica.com