By The Weekly Edge desk ·
The US Ninth Circuit Court of Appeals ruled that Kalshi’s sports contracts constitute bets rather than swaps protected under federal law, Legal Sports Report reported. The ruling concerns the legal classification of Kalshi’s sports contracts.
The ruling classifies Kalshi’s sports contracts as bets rather than swaps protected under federal law.
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The partnerships give the tribes customer-facing apps while Kalshi operates the underlying exchange and settles transactions.
Four additional tribal agreements give tribes app ownership and customer management while Kalshi supplies exchange services.
Kalshi’s sponsorships expand MLB prediction market partnerships, with four new partners playing in states that prohibit sports betting.
The agreements give Kalshi advertising exposure and fan engagement opportunities across five MLB teams.
The partnerships create commercial opportunities for tribal operators while legal disputes over sports event contracts remain unresolved.
The case could affect whether states can regulate sports prediction markets and the safeguards operators face.