Kalshi applies for full retrial to the US Sixth Circuit Court of Appeals, challenging the gambling regulatory ruling

On the 13th, the predictive market platform Kalshi submitted a request for a full retrial to the US Sixth Circuit Court of Appeals, requesting a reconsideration of the three member panel's rulings in Kalshi v. Schuler, Ohio and Kalshi v. Orgel, Tennessee. In late September, the collegiate bench ruled to uphold the preliminary injunction against Ohio's gambling regulatory agency against Kalshi and to revoke the preliminary injunction against the relevant agency in Tennessee. Kalshi claimed in the application that the collegiate bench had two misinterpretations of the Commodity Exchange Act, involving the priority of federal securities laws and state gambling laws, and whether sports contracts constituted swaps. Kalshi is still waiting for the opportunity to submit an application to the Supreme Court.