With this ruling, Kalshi’s lawsuit claims in Nevada failed again. According to The Block, the U.S. Court of Appeals for the Ninth Circuit sided with the district court and upheld the original verdict: Kalshi failed to prove that the authority of the federal government overrides Nevada’s regulatory authority over gambling operations.
The dispute in the lawsuit revolves around whether Kalshi can circumvent Nevada gambling regulations by asserting that the U.S. Commodity Futures Trading Commission (CFTC) has exclusive jurisdiction over the contracts on its platform. The Ninth Circuit Court's ruling this time is tantamount to once again rejecting this argument-the court found that Kalshi did not present sufficient arguments to prove that federal regulations should take precedence over state-level regulations.
At present, the public information is limited to the appeal result itself. The subsequent development of the case and whether there will be further actions by both parties have yet to be confirmed by more information.
