Kalshi Makes Its Case for Federal Court as Ninth Circuit Hearing Tees Up Potential Supreme Court Review

The fight over whether prediction markets belong in federal or state court continues to intensify. In the span of two days last week, KalshiEX LLC filed its opposition to Michigan Attorney General Dana Nessel’s motion to remand the state’s enforcement action to state court, and a Ninth Circuit panel heard oral arguments in consolidated appeals by three prediction market platforms challenging Nevada’s enforcement of state gambling laws against event contracts traded on a Commodity Futures Trading... By: Katten Muchin Rosenman LLP