Kalshi Seeks Full Sixth Circuit Review of Prediction Market Regulation Ruling

HIGHLIGHTS Kalshi requested Sixth Circuit rehearing following adverse rulings involving Ohio and Tennessee. The September 25 panel ruling permitted Ohio and Tennessee to enforce gambling laws against Kalshi. The CFTC proposed swap status for sports contracts and excluded casino wagers through separate rulemaking. Kalshi has asked the full Sixth Circuit to reconsider a ruling favoring Ohio and Tennessee sports regulators. Kalshi's court petition challenges the September 25 decision allowing states to enforce gambling laws. Kalshi Challenges The Sixth Circuit's Sports Contracts Ruling In its September decision, the three-judge panel found that Kalshi had not established its sports contracts as swaps.