US court blocks state regulation of Kalshi prediction markets

CFTC retains exclusive jurisdiction over event-based contracts

Governance Capital Markets Financial Services
🇬🇧
The Guardian ·
Change
A US federal appeals court ruled that the CFTC has exclusive jurisdiction over Kalshi’s event-based contracts, preventing state-level regulation.
Why it matters
State regulators cannot enforce gambling laws against federally regulated platforms, shifting oversight to federal authorities.
Implications
  • — State enforcement limited — regulatory authority shifts to federal level
  • — Platforms gain operational certainty — expansion opportunities increase

See full brief

Use 1 free preview to unlock implications, who’s affected, what to watch, and Clarify for this brief.

2 free previews left this month · Resets 1 Jul

Source
The Guardian
View on The Guardian
Clarify with AI

Clarify unlocks with the decision layer.

Decision prompts

Clarify with AI — Pro only

You asked:

Clarify turns any brief into answers specific to your role and exposure.

Pro includes

Implications — what this change may force you to review
Who is affected — which people, workflows, or obligations are touched
What to watch — dates, deadlines, and triggers that matter next
Real-time alerts — delivered when a decision-forcing change is published
Clarify with AI — ask what this change means for you

$29/month · Founding rate, locked for life. Cancel anytime.

Start your trial to clarify this brief

You asked:

Clarify is part of Pro. Start a 14-day trial for full access to every brief, unlimited Clarify questions, and real-time alerts.

Pro includes

Implications — what this change may force you to review
Who is affected — which people, workflows, or obligations are touched
What to watch — dates, deadlines, and triggers that matter next
Real-time alerts — delivered when a decision-forcing change is published
Clarify with AI — ask what this change means for you

$29/month after trial. No credit card required. Cancel anytime.

Start 14-day trial Sign in