Joe.My.God. — LGBTQ+ — Sat, 29 Aug 2026 15:30:01 +0000
Summary
The 9th Circuit Court of Appeals ruled Friday that states can regulate prediction market platforms, such as Kalshi, as a form of gambling, ending the status quo in which the sites were subject only to federal oversight. The decision, issued by a three-judge panel composed of Trump appointees, came after Nevada regulators sued to challenge the Commodity Futures Trading Commission's position that it alone could regulate the industry. Prediction market companies have long argued they are legally distinct from gambling and fall exclusively under CFTC jurisdiction, a stance the Trump-era CFTC supported by suing states that sought to regulate the platforms. Kalshi is expected to appeal the ruling. Donald Trump Jr. holds financial stakes in both Kalshi and Polymarket.
NOTUS reports:
States can regulate prediction market platforms as a form of gambling, the 9th Circuit Court of Appeals ruled Friday, opening the door for state-by-state regulation of companies like Kalshi. The ruling from a three-judge panel of Trump appointees upends the status quo for prediction market sites that had, up until this week, been only subject to federal regulations.
Prediction markets like Kalshi allow users to place wagers on the outcome of a wide array of events, and have long maintained they are legally distinct from gambling and are solely subject to regulation by the Commodity Futures Trading Commission. The company is expected to appeal the ruling.
Under the Trump administration, the CFTC sued a handful of states seeking to regulate prediction markets, actively supporting Kalshi as it faced lawsuits from states’ attorneys general. Friday’s ruling came after regulators in Nevada sued to challenge the CFTC’s view that only it could regulate the companies.
Read the full article. Donald Trump Jr. holds financial stakes in both Kalshi and Polymarket.
A federal court has ruled that states can regulate prediction market platforms as a form of gambling.
https://www.notus.org/courts/ninth-circuit-ruling-prediction-market-websites-state-regulation
— NOTUS (@notus.com) August 28, 2026 at 7:01 PM
Trump says “prediction markets” must be protected. His son is on the board of Kalshi.
— PatriotTakes 🇺🇸 (@patriottakes.bsky.social) May 26, 2026 at 5:37 PM
The grift continues as online betting market Kalshi hires Donald Trump Jr.!
The legislation I introduced months ago with Senator Merkley and @salinas.house.gov would protect the integrity of our democracy by banning election betting altogether.
— Rep. Jamie Raskin (@raskin.house.gov) January 13, 2025 at 4:39 PM
The President’s son is paid by Kalshi and Polymarket, and he’s telling elected officials not to go after these companies.
www.nytimes.com/2026/08/27/t…
— More Perfect Union (@moreperfectunion.bsky.social) August 27, 2026 at 9:45 AM
Original article: https://www.joemygod.com/2026/08/appeals-court-states-can-regulate-prediction-markets/ Source: Joe.My.God.