Appeals court allows Kalshi to continue offering sports bets despite NJ challenge

Court rules only federal law can govern prediction markets' contracts, but a dissent argues they are indistinguishable from sports bets.

By: Nikita Biryukov

Outlets: New Jersey Monitor

Published: April 7, 2026

Words: 528

Last Updated: 2 months, 2 weeks ago

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A federal appeals court upheld a lower court ruling that allowed Kalshi to continue offer contracts to bet on college sports in New Jersey, finding the state’s ban on collegiate sports betting is preempted by federal law governing some securities.

The U.S. 3rd Circuit Court of Appeals ruled the prediction market’s sports wagering contracts are futures trading contracts that can be regulated only by the Commodity Futures Trading Commission and not state law …

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