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Wire · regulatory

Two Regulators, One Bet: Sixth Circuit Holds State Regulators Can Police Prediction Markets

8 October 2026 · By · Wire by Fusion42

Published

8 October 2026

Topic

regulatory

◆ Sectors

Fintech

◆ Geography

United States

◆ Source

Read at freshfields.com →

◆ Verified

Fusion42 · 11 October 2026 · Fusion42 review

The Sixth Circuit ruled that Kalshi's sports-event contracts are not covered as swaps under the Commodity Exchange Act and upheld that state regulators can enforce gaming laws alongside federal rules. This decision intensifies the circuit split on prediction market regulation and signals concurrent jurisdiction of state and federal regulators over these markets.

This Wire brief sits within Fusion42's coverage of Fintech, and 3 sources have reported it between 27 Sep 2026 and 8 Oct 2026.

◆ ◆ The Wire takeaway

You now face dual scrutiny from state and federal regulators for prediction markets, requiring you to build compliance beyond CFTC rules. Sharpen your licensing and gaming law strategy immediately to avoid costly regulatory conflict.

◆ Coverage

3 sources · first reported 27 Sep 2026 · latest 8 Oct 2026

◆ Related on Wire

◆ Topics

Fintechprediction-marketsregulatory-splitstate-vs-federalceagaming-lawskalshi