Sports bets on prediction markets ruled to be “swaps,” exempt from state laws
via storage.courtlistener.com
Short excerpt below. Read at the original source.
A federal appeals court ruled that New Jersey cannot regulate sports bets on prediction markets because the US Commodity Futures Trading Commission (CFTC) has exclusive jurisdiction. Kalshi, which is registered with the CFTC as a designated contract market (DCM), last year won a preliminary injunction preventing the New Jersey Division of Gaming Enforcement from enforcing […]