A company accused by Arizona of illegal gambling and election wagering has won a victory at the Third Circuit Court of Appeals.
The prediction market platform Kalshi is the target of criminal charges filed by the Arizona Attorney General’s Office, which was recently sued by the Trump administration for doing so.
Now, the Third Circuit Court of Appeals has ruled New Jersey cannot block Kalshi from offering contracts on sports events because they are federally regulated by the Commodity Futures Trading Commission.
Kalshi says it's different from sports books and cited the same commission while arguing that Arizona has no jurisdiction to bring a case.
The Arizona AG's Office declined to comment on the Third Circuit ruling.
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