World · Regulation · United States ·
US court confirms states can regulate prediction markets
A US appeals court ruled that states retain authority over prediction market regulation, contradicting federal court interpretations and setting up potential Supreme Court involvement. The decision dealt a legal blow to Kalshi, which has been pursuing federal regulatory approval for event contracts.
Why it matters for the crypto market
The ruling creates regulatory uncertainty for crypto-based prediction markets and derivatives, as states and federal courts diverge on jurisdiction, potentially restricting market access across US borders.
Source: CoinDesk
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