A US appeals court rules that Kalshi's sports contracts are not "swaps" subject only to CFTC regulation, allowing states to regulate them under gambling laws (Jonathan Stempel/Reuters)
Jonathan Stempel / Reuters: A US appeals court rules that Kalshi's sports contracts are not “swaps” subject only to CFTC regulation, allowing states to regulate them under gambling laws — A US appeals court on Friday ruled against the prediction markets operator Kalshi, saying states can regulate …