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Prediction Markets Face Legal Shake-Up | Eau Claire News
A federal appeals court just handed a major blow to prediction market giants like Kalshi, ruling that these platforms are essentially gambling operations — not financial exchanges — and must fall under state gaming laws. With 44 states already arguing this point, the Ninth Circuit’s decision could pave the way for widespread crackdowns, forcing companies to either adapt or face legal battles. Kalshi plans to appeal and is eyeing the CFTC for clarity, but with conflicting rulings already in play, the Supreme Court may soon be forced to settle this high-stakes legal showdown. Listen in…
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