The US Sixth Circuit Court of Appeals has ruled that Ohio and Tennessee can regulate Kalshi

The three member panel of the United States Sixth Circuit Court of Appeals ruled that Ohio and Tennessee can regulate Kalshi's sports contract under their own state gambling laws, and found that Kalshi failed to prove that the sports contract was an exchange product under the jurisdiction of the CFTC. The ruling is consistent with the conclusion of the Ninth Circuit Court, but the Third Circuit Court had previously ruled that Kalshi could conduct business in New Jersey during the litigation, creating a division in the circuit court. Several state legislators have submitted amicus curiae opinions to the United States Supreme Court. (Source: Bloomberg)