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States Win Legal Battle Against Kalshi | Tucson News
A federal appeals court just sided with Nevada, blocking prediction markets like Kalshi from trading on sports and elections — a major win for states’ rights in gambling regulation. The court ruled that Nevada’s laws stand, rejecting Kalshi’s claim that federal commodities law overrides state rules. With similar legal battles brewing in Arizona — where Kalshi faces criminal charges — conflicting rulings across federal courts are now pushing this issue toward the Supreme Court. Kalshi insists it’s a financial exchange, not a betting site, but judges are skeptical. Trading is paused in Nevada…
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