After 9th Circuit ruling, Mayes pushes to revive her gambling case against Kalshi

Filed 3h ago · Via Arizona Mirror · The Buffoon Desk

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Le Grand Chase

Kevin MacLeod · incompetech.com · CC BY 4.0

Photo: The White House · Public domain · via Wikimedia Commons

Arizona Attorney General Kris Mayes is asking the 9th Circuit to dissolve an injunction that has blocked her from prosecuting prediction market firm Kalshi under state gambling laws. Her filing leans on a recent, separate 9th Circuit ruling in a Nevada case holding that sports outcomes aren't protected 'swaps' under federal commodities law, which directly contradicts the reasoning the Arizona trial judge used to block her.

The Commodity Futures Trading Commission, while conceding that reasoning can't stand, is asking the court to hold off lifting the injunction until Kalshi's request for a full-court rehearing is resolved, calling it a 'gamble' to act too soon. The underlying question, whether betting on who wins the Super Bowl is regulated differently than betting on whether it happens at all, now sits before the same appellate judges twice.

The full dispatch is available from the source below.

✒ FROM THE EDITORIAL DESK

It takes a certain kind of legal system to need a panel of appeals judges to explain that betting on who wins is different from betting on whether the game happens. But here we are, with a state regulator waiting on procedural traffic lights just to enforce her own state's gambling law. The company selling bets on virtually anything, meanwhile, keeps taking bets while the lawyers sort it out.

Source: Read the original at Arizona Mirror → Scored: Le Grand Chase · Kevin MacLeod · CC BY 4.0

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