TechFlow News: On April 17, according to Cointelegraph, the legal dispute between prediction market platform Kalshi and the State of Nevada over regulatory jurisdiction for event contracts may ultimately be appealed to the U.S. Supreme Court. Before the U.S. Court of Appeals for the Ninth Circuit, Kalshi argued that its event contracts qualify as “swaps” under the exclusive regulatory authority of the U.S. Commodity Futures Trading Commission (CFTC), rather than falling within state-level gambling regulation. Previously, Nevada had restricted Kalshi from offering such contracts on the grounds that it needed a gambling license. Coinbase’s Chief Legal Officer, Paul Grewal, stated that the Supreme Court may rule on whether sports contracts traded on designated contract markets fall exclusively under the CFTC’s jurisdiction.
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