The ruling clears the way for two states to apply their gaming statutes to prediction market and crypto offerings while litigation continues.
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The suit challenges the agency's clearance of equity perpetual futures, a product Kalshi has moved to list.
The criminal case escalates state-level enforcement against the prediction market beyond civil suits.
The state seeks monetary damages alongside its criminal complaint against the exchange.
Major operators pulled back as Utah pressed enforcement against event contracts in the state.
Arkansas is the latest state to bring a civil case against the exchange over its event contracts.
The Ninth Circuit let stand its earlier ruling in the dispute over Kalshi's sports event contracts in Nevada.
The ruling questions the agency's legal basis for clearing equity perps while declining to halt them immediately.
The approvals let Sporttrade launch exchange-style prediction market offerings under federal oversight.
The agency's clearance opened a new product category for federally regulated exchanges.
Senate composition could affect confirmation dynamics around a potential landmark ruling on sports event contracts.
State-level fights are seen as a larger risk to prediction markets than federal election outcomes.
Lawmakers from both parties are signaling increased scrutiny of event contract venues.
The proposal targets event contracts tied to natural disasters, a category drawing regulatory concern.
State lawmakers are weighing legislation to define how event contracts are regulated in Ohio.
Operators are expanding into alternative gaming products as prediction markets gain traction.
The running back exited his position to comply with league rules barring player ties to gambling entities.
Scrutiny of Virginia's approach to college sports wagering continues amid broader market changes.
Commentary assesses how election markets performed and what the cycle means for the sector.