A US appeals court rules that Kalshi's sports contracts are not "swaps" subject only to CFTC regulation, allowing states to regulate them under gambling laws (Jonathan Stempel/Reuters)

Jonathan Stempel / Reuters:
A US appeals court rules that Kalshi's sports contracts are not “swaps” subject only to CFTC regulation, allowing states to regulate them under gambling laws  —  A US appeals court on Friday ruled against the prediction markets operator Kalshi, saying states can regulate …

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