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August 28, 2026
Federal Appeals Court Rules Against Kalshi, Upholding Nevada's Gambling Regulations
- The Ninth Circuit Court of Appeals ruled against Kalshi, preventing it from restarting trading on sports and election events in Nevada until it obtains a state gambling license.
- The court determined that federal commodities law does not preempt Nevada's gambling regulations, marking a significant victory for state authorities.
- Kalshi plans to seek further review of the decision as it faces ongoing litigation involving roughly 20 states regarding prediction market regulations.
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3 Sources
- States can regulate prediction markets as gambling, federal appeals court rulesAug 28, 2026 at 6:17 PM · CNN
- Federal appeals court panel gives Nevada a win over KalshiAug 28, 2026 at 8:23 PM · AP
- Appeals court rules states can regulate prediction market platforms like gamblingAug 28, 2026 at 10:13 PM · The Hill