Third Circuit News & Prediction Market Coverage
Track the latest Third Circuit news across prediction markets. Prediction News is following 4 active Third Circuit stories across regulation, legal action, market moves, and platform developments, each clustered from original reporting and summarized for operators, traders, and regulators.
Latest News
Sixth Circuit rules Kalshi sports contracts subject to Ohio and Tennessee gambling laws
LegalSixth Circuit rules Kalshi sports contracts not swaps, deepening circuit split
LegalNew Jersey asks Supreme Court to settle who regulates Kalshi sports contracts
LegalNew Jersey asks Supreme Court to settle Kalshi sports-contracts fight
Frequently Asked Questions
What was the Third Circuit's ruling in the Kalshi case?
In April 2026, the Third Circuit affirmed a preliminary injunction, holding 2-1 that Kalshi's sports event contracts are swaps under the CEA subject to CFTC exclusive jurisdiction, preempting New Jersey's gambling laws.
Does the Third Circuit decision allow Kalshi to operate in New Jersey?
Yes, the ruling upholds an injunction blocking New Jersey from enforcing its gambling laws against Kalshi's sports contracts pending further proceedings.
How does the Third Circuit ruling differ from the Ninth Circuit's?
The Third Circuit found federal preemption and that the contracts are swaps, while the Ninth Circuit ruled they are likely gambling and not swaps, creating a circuit split.
Is the Third Circuit Kalshi decision final?
No, it addressed only the preliminary injunction on likelihood of success; the case returns to district court, and New Jersey may seek Supreme Court review.
Can New Jersey appeal the Third Circuit ruling to the Supreme Court?
Yes, Justice Alito extended New Jersey's deadline to August 4, 2026, to petition for certiorari on the Third Circuit's decision.