Judges appeared ready on Thursday to side with the states over Kalshi in oral arguments before the U.S. Court of Appeals for the Sixth Circuit, with one judge questioning why the prediction market was “so disparaging of” the idea of state regulation.
Counsel for Kalshi, Tennessee, and Ohio made their arguments before judges Eric Clay, Rachel Bloomekatz, and Julia Gibbons. The Sixth Circuit heard appeals after the U.S. District Court for the Middle District of Tennessee ruled that a state cannot ban sports event contracts while the U.S. District Court for the Southern District of Ohio ruled that it can.
