Kalshi seeks en banc rehearing in Nevada sports prediction market case

Kalshi has petitioned the ninth Circuit Court of Appeals for an en banc rehearing after an appellate ruling on regulation of its sports event contracts with the Nevada Gaming Control Board, CoinGape reported. A panel of the ninth Circuit ruled last week that Kalshi’s sports-related prediction contracts qualify as sports betting rather than swaps under the federal Commodity Exchange Act, allowing Nevada gaming regulators to regulate them as gambling.