How Kalshi v. Flaherty splits event contracts from gambling law

How Kalshi v. Flaherty splits event contracts from…

The Third Circuit's April 6, 2026 ruling in KalshiEX LLC v. Flaherty, No. 25-1922, holds that sports-related event contracts traded on a Commodity Futures Trading Commission (CFTC)-registered exchange are "swaps" under the Commodity Exchange Act…

CFTC's grip on sports event contracts faces a circuit split

CFTC’s grip on sports event contracts faces a…

The Commodity Futures Trading Commission's claim to exclusive jurisdiction over sports prediction-market contracts — upheld by the Third Circuit on April 6, 2026 — is now colliding with state gambling regulators and a pending Ninth…