Kalshi Sports Event Contract Regulatory Dispute Submitted to the U.S. Supreme Court
Prefer us on GoogleTwo federal appellate courts in the United States have issued conflicting rulings on whether states can regulate Kalshi's sports event contracts, leading New Jersey to petition the U.S. Supreme Court for review. The core of the dispute is whether the relevant contracts fall under federally regulated financial swaps or should be governed by state gambling laws. Approximately 70% of Kalshi's daily trading volume comes from sports events; if states gain regulatory authority, Kalshi may face state taxes ranging from 10% to 51% on gambling revenue and other restrictions.
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