Kalshi Suffers Court Loss in Ohio over Sports Betting Lawsuit
Kalshi lost a court battle in Ohio, as a judge ruled the state isn't preempted from regulating its sports betting contracts.Summary
Prediction markets platform Kalshi suffered a legal setback in Ohio, with a federal court denying its request for an injunction against state authorities. Kalshi argued that federal commodities laws superseded state laws regarding sports event contracts, but Judge Sarah Morrison found that Kalshi failed to demonstrate the CFTC had exclusive jurisdiction over these contracts. The court also stated that even if the CFTC did have exclusive jurisdiction, it doesn't automatically preempt Ohio's sports gambling laws. This decision contrasts with CFTC Chair Michael Selig’s claim of exclusive federal jurisdiction and potential lawsuits against states. Kalshi plans to appeal the ruling, while the CFTC is expected to release guidance on prediction markets soon.
(Source：Cointelegraph)