Court rules prediction market Kalshi must comply with state gambling laws

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A federal appeals court has ruled against Kalshi, determining that the prediction market platform must comply with state gambling laws. The decision marks another legal setback for Kalshi, which has been challenging the applicability of such regulations to its business model. The judges found that operating prediction markets falls within the jurisdiction of existing state gambling statutes. With the ruling going against them again, Kalshi may now seek to take the case to the Supreme Court.

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