Kalshi takes legal blow in court ruling confirming state powers over prediction markets

Crypto Insight Summary: This latest U.S. appeals court ruling sets up a rift between federal courts on event contracts, suggesting the U.S. Supreme Court may need to settle the matter. Crypto Insight Analysis: Direction: Neutral Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Court ruling affects prediction markets, not directly crypto markets.