Sixth Circuit Turns Kalshi’s Own Words Against It in Two-State Loss

Crypto Insight Summary: A federal appeals court ruled Sept. 25 that Ohio and Tennessee can enforce their gambling laws against Kalshi’s sports contracts. The court built part of its reasoning on things Kalshi had said in court. The company’s multi-state litigation footprint already produced a circuit split, and its reply to New Jersey’s Supreme Court petition is due […] Crypto Insight Analysis: Direction: Bearish GT Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Legal setback for Kalshi may deter platform growth and investor confidence.