Business · 30 August 2026
Federal appeals court rules states can treat prediction markets as gambling
Unsplash / Conny Schneider
A federal appeals court ruled on Friday that states can treat prediction markets like gambling, a setback for the growing industry. The Ninth Circuit Court of Appeals ruled 3-0, following an attempt by Nevada regulators to close the Kalshi prediction site. The ruling creates a split with another court, making it likely the Supreme Court will eventually decide the issue.
Reported by CNN · How we write briefs