"The U.S. Court of Appeals for the Third Circuit issued a 2-1 decision on April 6, 2026, holding that the federal Commodity Exchange Act preempts New Jersey's attempt to block Kalshi from offering sports-related event contracts to state residents."
"Kalshi, founded in 2018 and certified by the U.S. Commodity Futures Trading Commission in 2020, operates a prediction market platform where users trade contracts tied to real-world outcomes, including major sporting events."
"New Jersey's Division of Gaming Enforcement sent Kalshi a cease-and-desist order in March 2025, arguing the platform's sports contracts violated the New Jersey Sports Wagering Act."
The Third Circuit Court of Appeals ruled that federal law preempts New Jersey's attempt to shut down Kalshi's sports prediction market. This decision affirms a previous injunction that blocked the New Jersey Division of Gaming Enforcement from enforcing a cease-and-desist order against Kalshi. The platform, which allows users to trade contracts on real-world outcomes, has reported over $1 billion in weekly trading volume. New Jersey may seek further legal review, with multiple lawsuits against Kalshi still pending nationwide.
Read at news.bitcoin.com
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