U.S. appeals court rejects Kalshi preemption claim, allows Nevada enforcement

The U.S. Court of Appeals for the Ninth Circuit ruled against Kalshi in a jurisdiction dispute over regulation of prediction market platforms by state and federal authorities, according to Crypto Briefing. The ruling lifts a preliminary injunction that had blocked enforcement action against Kalshi by Nevada gambling regulators before a final decision in the case. In a unanimous 3-0 decision, the court said Kalshi failed to show that the Commodity Exchange Act preempts Nevada’s gambling rules on sports event contracts.