By The Weekly Edge desk ·
The 10th US Circuit Court of Appeals denied Kalshi’s emergency request to halt Utah gambling enforcement during its appeal, reported by Online Poker Report. Utah can continue enforcing its gambling laws against the platform while the appeal proceeds.
The ruling leaves Kalshi exposed to Utah gambling enforcement while its appeal continues.
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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 case could affect whether states can regulate sports prediction markets and the safeguards operators face.
Prediction market exchanges face a CFTC warning about manipulation risks involving public figures’ statements or actions.