New Jersey cannot regulate Kalshi's prediction market, US appeals court rules - Reuters

A US appeals court has ruled that New Jersey cannot regulate Kalshi's prediction market. This decision overturns New Jersey's attempt to assert state-level oversight over the online platform, which offers contracts on future events. The ruling establishes that federal law, specifically the Commodity Exchange Act, preempts state regulation of such markets. This means Kalshi can continue operating its prediction market without needing to comply with New Jersey's state-specific regulatory framework. The outcome clarifies jurisdictional boundaries for prediction markets operating across state lines.