News Summary

• The Sixth US Circuit Court of Appeals ruled on Friday 25 September that Ohio and Tennessee can regulate Kalshi ‘s event contracts under their own gambling laws.
• The unanimous three-judge panel, based in Cincinnati, handed the prediction-market operator its second appellate loss in as many months.
• Friday’s decision is the third time a federal appeals court has weighed in on whether prediction markets answer to state gambling regulators, federal commodities law, or both – and the answers haven’t matched.