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Kalshi’s legal dispute with Nevada over the regulation of event contracts may soon reach a final ruling by the U.S. Supreme Court. The platform argues that its contracts should be classified as “swaps” under CFTC jurisdiction, not subject to state gambling laws. Nevada previously blocked Kalshi from operating without a state license. Legal experts say the case could also establish a precedent for stablecoin regulation and determine whether federal agencies like the CFTC have broader authority over digital assets.

According to Cointelegraph, the legal dispute between the prediction market platform Kalshi and Nevada over the regulatory jurisdiction of event contracts may ultimately reach the U.S. Supreme Court. Kalshi argued before the U.S. Court of Appeals for the Ninth Circuit that its event contracts qualify as “swaps” under the jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC), rather than falling under state gambling regulations. Previously, Nevada restricted Kalshi from offering such contracts, asserting that it required a gambling license. Coinbase Chief Legal Officer Paul Grewal stated that the Supreme Court may rule on whether sports contracts on designated contract markets fall exclusively under the CFTC’s jurisdiction.Source:Show originalDisclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.