6th US Circuit Court of Appeals

The 6th US Circuit Court of Appeals, based in Cincinnati, is a federal appellate court that reviews decisions from lower federal courts within its jurisdiction. Recently, it made a significant ruling concerning the regulation of prediction markets. The court decided against Kalshi, a company that sought to exempt its "event contracts" from state gambling laws. This decision affirms that states have the authority to regulate such markets. The ruling is noteworthy as it adds to a varied landscape of appeals court decisions on prediction markets, potentially paving the way for a Supreme Court review. The 6th Circuit's stance has immediate implications for companies operating in this space and contributes to the ongoing legal and regulatory debate surrounding the nature and oversight of prediction markets in the United States.