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Appeals court blocks New Jersey from shutting down Kalshi's sports markets | Coinfeather

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Appeals court blocks New Jersey from shutting down Kalshi's sports markets

CoinDesk14 days ago2 min readBy Nikhilesh De

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An appeals court ruling affirming federal preemption over state gambling laws provides a significant legal victory for prediction markets like Kalshi, potentially opening the door for broader market acceptance and growth.
The divergence in court rulings highlights ongoing regulatory uncertainty for prediction markets, suggesting that while this specific case is a win, the broader legal landscape remains complex and subject to further challenges.
This development signals a potential shift in regulatory oversight for event contracts, with the CFTC asserting exclusive jurisdiction, which could impact how similar platforms are treated across different states.

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Sectors

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