Kalshi loses another major court fight as states win power to regulate sports prediction markets

Crypto Insight Summary: Kalshi has lost another major court fight over sports prediction markets, with the 6th U.S. Circuit Court of Appeals ruling Friday that states can apply local gambling laws to sports event contracts. The unanimous three-judge panel said Ohio and Tennessee may regulate Kalshi’s sports markets. It is the industry’s second legal setback as the fight... Crypto Insight Analysis: Direction: Bearish KALS Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Legal setback limits Kalshi's market expansion potential.