Kalshi wins prediction market ruling

The ruling is a significant victory for Kalshi, allowing the platform to continue offering bets on the outcomes of sports and political events.

New Jersey gaming regulators had attempted to block the service, arguing it violated state gambling laws.

The court's decision establishes that prediction markets are 'swaps' and thus subject to federal oversight.

This precedent could pave the way for the expansion of similar platforms across the United States.