Technology & AI
Kalshi court losses pile up as judges refuse to block state gambling laws
Source: Ars Technica - All content · Published
Kalshi is having a bad week in the federal court system. Two circuit appeals courts rejected the prediction market's latest attempts to block state gambling laws in Connecticut, New York, and Nevada. Kalshi is separately facing a new lawsuit filed by the Arkansas attorney general
Kalshi is having a bad week in the federal court system. Two circuit appeals courts rejected the prediction market's latest attempts to block state gambling laws in Connecticut, New York, and Nevada. Kalshi is separately facing a new lawsuit filed by the Arkansas attorney general.
In all cases involving Kalshi and state governments around the US, the main issue is whether state gambling laws apply to prediction markets despite Kalshi's claim that its platform offers "swaps" that can only be regulated by the US Commodity Futures Exchange (CFTC). The Trump administration is on Kalshi's side, with Donald Trump Jr. serving as an advisor to Kalshi in exchange for a generous equity deal .
"Kalshi insists that its products are not gambling," but "Arkansas law is concerned with substance, not semantics," Arkansas Attorney General Tim Griffin said yesterday when announcing his lawsuit against Kalshi. Kalshi's prediction market lets customers "wager money on the outcome of just about anything" despite the fact that "gambling on an unregulated platform is squarely prohibited by Arkansas law," he said. Read full article Comments
Related stories
Why Gen Z are planning for life without a state pension
Many younger people do not believe the state pension will exist when they are older
feeds.bbci.co.uk ·
Ads in Chatbots Have Arrived. Here’s What’s Working—and What’s Not
As Anthropic maintains its vow to keep ads out of Claude, the rest of the AI chatbot industry is racing to win over advertisers without antagonizing users.
WIRED ·
Serve Robotics launches new business to become the AWS for robots
Serve Robotics announced alonsgside its third-quarter earnings that it will launch a new business line called Physical AI Services to offer customers its connectivity and data tools.
TechCrunch ·
Google is ditching Firebase Studio soon, and it wants you to use its newer AI tools instead
The company is going all-in on Antigravity and Google AI Studio and hopes developers will do the same.
Engadget - Technology News & Expert Reviews ·
Blue Origin’s next launch now won’t happen until 2027
Blue Origin CEO reportedly sent a memo to staff about the new timeline. | Anadolu via Getty Images Blue Origin plans to do its next New Glenn rocket launch in January 2027, according to CNBC and the Financial Times , which cite a memo from CEO Dave Limp sent to staff. The new tim
The Verge ·