3rd Circuit Court Ruling Favors Kalshi Inc., Clarifies CFTC Jurisdiction Over Sports Contracts in New Jersey
The 3rd Circuit Court of Appeals has issued a landmark ruling in favor of Kalshi Inc., effectively exempting its sports contracts from New Jersey’s stringent gambling laws. In a 2-1 decision, the court affirmed that Kalshi’s event contracts align with the Commodity Exchange Act’s definition of “swaps,” and as such, fall under the jurisdiction of…