Ninth Circuit deals blow to Kalshi in Nevada sports betting fight, challenging CFTC’s exclusive jurisdiction claim

Crypto Insight Summary: An appeals court sided with a lower court's ruling that Kalshi failed to show that the federal government preempts Nevada’s authority. Crypto Insight Analysis: Direction: Neutral Impact: No Impact Horizon: Short-term (1-3 days) Reasoning: The ruling pertains to sports betting, not directly related to crypto markets.