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Story summary
- U.S. District Judge Sarah D. Morrison in Ohio ruled Kalshi, a prediction market platform, must comply with state gambling regulations after denying a preliminary injunction against the Ohio Casino Control Commission.
- Morrison said the Commodity Exchange Act does not preempt state sports betting laws and called Kalshi's argument that contracts are federally regulated swaps absurd.
- Kalshi plans to appeal, and similar rulings followed in Massachusetts and Nevada.
