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Kalshi's Legal Battle Over Prediction Markets | Dayton News
Kalshi, an online prediction market, is locked in a high-stakes legal battle across multiple states over whether its sports contracts are federally regulated financial derivatives or illegal sports betting — a fight that could redefine the future of prediction markets nationwide. States argue Kalshi’s model is just a fancy sportsbook, demanding licensing and consumer protections, while Kalshi counters it’s a CFTC-regulated exchange, claiming federal law blocks state interference. Courts are split, reflecting a deeper national debate: where does financial innovation end and gambling begin? The…
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