Ninth Circuit rules states can regulate prediction market sports contracts as gambling
The Ninth Circuit Court of Appeals ruled that Nevada can enforce its gambling laws against Kalshi's sports-related event contracts, holding they are not swaps under the Commodity Exchange Act. The decision creates a circuit split with the Third Circuit's earlier ruling favoring prediction markets, potentially setting up Supreme Court review. Kalshi said it will seek further appeal.
23
Divergence score
5 outlets covered it, splitting into 5 framing camps across 3 bias groups.
5 camps
3 bias groups
Market signalBETA
The spectrum · how 5 outlets placed this story
LeftCenterRight
Reason
CNN
Daily Wire
Reuters
The Hill
Supportive of action
Neutral
Dismissive
Critical
Alarmist
International angle
Widest split · the two outlets furthest apart, and who published first
Furthest apart on this story
Reason
Kalshi Says It's a Prediction Market. The 9th Circuit Says It's Gambling.
legal doctrine deep dive · neutral
CNN
States can regulate prediction markets as gambling, federal appeals court rules - CNN
industry blow with SCOTUS preview · negative
First to report
- CNNfirst
- Daily Wire+0 min
- Reuters+3.1 h
- The Hill+3.9 h
- Reason+95.8 h
By each outlet's earliest publish time in this story. Feeds that index slowly can appear later than they printed.
The split, in one line
Outlets agree on the ruling but split on emphasis: some highlight major blow to booming industry while others stress the circuit split teeing up SCOTUS or the CFTC is not a national gambling regulator quote.
How each outlet covered it
Broad agreement on what happened
Outlets across the spectrum land in roughly the same place: the shared language is highlighted.
THE LEFT
“States can regulate prediction markets as gambling, federal appeals court rules - CNN”CNN CNN LEFT
23LOW DIVERGENCE
DOWN THE MIDDLE
“Appeals court rules states can regulate prediction market platforms like gambling” · Reuters, The Hill
+Hide the full sourcingSee how all 5 outlets put it
LEFT1
CNNCNN States can regulate prediction markets as gambling, federal appeals court rules - CNN 15d ago CENTER2
RReuters Kalshi cannot block Nevada oversight of prediction markets, US appeals court rules 15d ago HThe Hill Appeals court rules states can regulate prediction market platforms like gambling 15d ago 8 tracked claims across 5 outlets
Fact ledger
All8Claimed2Corroborated6
1/5
Claimed
Shares of DraftKings and Flutter Entertainment rose following the decision
Corroborated
Disputed
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