US state regulation of prediction markets
New York sued Polymarket, alleging it violated state gambling laws and seeking to block its operations without a licence. An appeals court separately ruled that states can regulate Kalshi’s sports prediction markets.
Timeline
Saturday, 26 September
- Appeals court says states can regulate Kalshi sports contracts
The Sixth Circuit said sports event contracts are not swaps subject to federal regulation
Thursday, 24 September
- Polymarket sues New York as the state pursues gambling-law action
New York alleges Polymarket violated state gambling laws and seeks to block unlicensed operations
