Federal Appeals Court Rules in Favor of Kalshi, Blocking New Jersey's Attempt to Shut Down Sports Markets
In a significant decision, a federal appeals court has ruled that New Jersey cannot temporarily ban the operations of prediction market provider Kalshi, handing the company a crucial victory in its battle against state-level enforcement actions. The Third Circuit Court of Appeals, in a 2-1 decision, found that Kalshi's products fall under the federal Commodity Exchange Act, thereby superseding Ne…
