On Friday, the Ninth Circuit ruled unanimously against Kalshi. The three-judge panel all concluded that Kalshi’s sports markets should not be exempt from state sports betting laws. While this appears to be a major blow to the operator, there is enough in the judgment to give encouragement, according to law professor Melinda Roth.
The ruling, which goes against the Third Circuit, sets up a potential Supreme Court showdown between state gambling regulators and prediction markets. New Jersey officially petitioned for the Supreme Court to take the case on Wednesday.
“I do not think that the Ninth Circuit ruling against Kalshi has any new consequences, as it was predicted,” Roth told CasinoBeats this week.
