{"id":18420,"date":"2026-09-02T08:30:00","date_gmt":"2026-09-02T13:30:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/?post_type=america&#038;p=18420"},"modified":"2026-09-01T22:26:31","modified_gmt":"2026-09-02T03:26:31","slug":"kalshi-ruling-reshapes-future-of-prediction-markets","status":"publish","type":"america","link":"https:\/\/www.mundovideo.com.co\/en\/america\/kalshi-ruling-reshapes-future-of-prediction-markets\/","title":{"rendered":"Kalshi ruling reshapes future of prediction markets"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The future of sports prediction markets in the United States entered a new phase on <strong>August 28, 2026<\/strong>, when the <strong>U.S. Court of Appeals for the Ninth Circuit<\/strong> unanimously ruled against <strong>KalshiEX LLC<\/strong> and backed Nevada\u2019s authority to apply state gambling laws to certain sports event contracts. The panel, composed of Judges <strong>Ryan D. Nelson, Bridget S. Bade and Kenneth K. Lee<\/strong>, found that Kalshi had failed to demonstrate that the <strong>Commodity Exchange Act (CEA)<\/strong> displaced state regulation over products that, in practice, function as sports bets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.mundovideo.com.co\/en\/america\/new-york-corners-kalshi-with-us36-billion-lawsuit\/\" target=\"_blank\" rel=\"noreferrer noopener\">New York corners Kalshi with US$36 billion lawsuit<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><a href=\"https:\/\/www.mundovideo.com.co\/mve-ads\/?lang=en\" target=\"_blank\" rel=\" noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"500\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/05\/ADS-MVE.jpg\" alt=\"\" class=\"wp-image-16352\" style=\"width:840px;height:auto\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/05\/ADS-MVE.jpg 600w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/05\/ADS-MVE-300x250.jpg 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The lead opinion, written by <strong>Ryan Nelson<\/strong>, held that Kalshi\u2019s attempt to characterize its contracts as federally regulated financial instruments rather than sports betting amounted to a <em>\u201cdistinction without a difference.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The case, <strong>KalshiEX, LLC v. Assad et al., No. 25-7516<\/strong>, was argued on <strong>April 16, 2026 in San Francisco<\/strong>. The court confirmed that Nevada may act against sports contracts and remanded the dispute over election event contracts to the District Court.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"743\" height=\"493\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/09\/kalshi-ruling-reshapes-future-of-prediction-markets2.png\" alt=\"\" class=\"wp-image-18422\" style=\"width:840px;height:auto\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/09\/kalshi-ruling-reshapes-future-of-prediction-markets2.png 743w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/09\/kalshi-ruling-reshapes-future-of-prediction-markets2-300x199.png 300w\" sizes=\"auto, (max-width: 743px) 100vw, 743px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Judge Bridget S. Bade<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The conflict began on <strong>March 4, 2025<\/strong>, when the <strong>Nevada Gaming Control Board (NGCB)<\/strong> sent Kalshi a cease-and-desist letter. The company initially secured a preliminary injunction on <strong>April 9, 2025<\/strong> before federal Judge <strong>Andrew P. Gordon<\/strong>, but that protection was later dissolved. On <strong>July 24, 2026<\/strong>, Nevada also announced the shutdown of Kalshi\u2019s sports prediction-market business in the state.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"707\" height=\"432\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/09\/kalshi-ruling-reshapes-future-of-prediction-markets3.png\" alt=\"\" class=\"wp-image-18423\" style=\"width:840px;height:auto\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/09\/kalshi-ruling-reshapes-future-of-prediction-markets3.png 707w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/09\/kalshi-ruling-reshapes-future-of-prediction-markets3-300x183.png 300w\" sizes=\"auto, (max-width: 707px) 100vw, 707px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Mike Dreitzer<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The state regulator is chaired by <strong>Mike Dreitzer<\/strong>, Chairman of the NGCB, while the <strong>Nevada Gaming Commission<\/strong> is headed by <strong>Jennifer Togliatti<\/strong>. At the federal level, Kalshi operates as a <strong>Designated Contract Market<\/strong> under the supervision of the <strong>Commodity Futures Trading Commission (CFTC)<\/strong>, chaired by <strong>Michael S. Selig<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"741\" height=\"468\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/09\/kalshi-ruling-reshapes-future-of-prediction-markets4.png\" alt=\"\" class=\"wp-image-18424\" style=\"width:840px;height:auto\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/09\/kalshi-ruling-reshapes-future-of-prediction-markets4.png 741w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/09\/kalshi-ruling-reshapes-future-of-prediction-markets4-300x189.png 300w\" sizes=\"auto, (max-width: 741px) 100vw, 741px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"> <em>George Santos<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The regulatory battle remains open. On <strong>June 10, 2026<\/strong>, the CFTC proposed changes to <strong>Regulation 40.11<\/strong> that would more clearly define \u201cgaming,\u201d establish public-interest factors and create 90-day review procedures for event contracts. Judge <strong>Kenneth Lee<\/strong>, in a separate concurrence, left open the possibility that a future regulatory interpretation could alter the legal landscape.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><a href=\"https:\/\/www.mundovideo.com.co\/landing\/multigame-link\/\" target=\"_blank\" rel=\" noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"700\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/08\/multigame-diamod-III-700-eng.jpg\" alt=\"\" class=\"wp-image-9622\" style=\"width:840px;height:auto\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/08\/multigame-diamod-III-700-eng.jpg 700w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/08\/multigame-diamod-III-700-eng-300x300.jpg 300w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/08\/multigame-diamod-III-700-eng-150x150.jpg 150w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Kalshi is also moving to strengthen its internal credibility. On <strong>August 31<\/strong>, it fined former congressman <strong>George Santos US$71,356<\/strong> and imposed the first lifetime ban in company history for trading on a contract tied to his own attendance at the <strong>February 24, 2026 State of the Union<\/strong>. The CFTC had already sanctioned him on <strong>July 31<\/strong>, ordering <strong>US$17,569.98 in disgorgement<\/strong>, a US$17,500 civil penalty and a three-year trading ban.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The future of sports prediction markets in the United States entered a new phase on August 28, 2026, when the U.S. Court of Appeals for the Ninth Circuit unanimously ruled against KalshiEX LLC and backed Nevada\u2019s authority to apply state gambling laws to certain sports event contracts.<\/p>\n","protected":false},"author":1,"featured_media":18421,"menu_order":0,"comment_status":"closed","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[1458,1488,15,4891,1425,4899,105],"class_list":["post-18420","america","type-america","status-publish","format-standard","has-post-thumbnail","category-sin-categoria","tag-america","tag-ban","tag-gambling","tag-kalshi","tag-nevada","tag-prediction-markets","tag-sports-betting","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - 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