Kalshi’s last stop now the Supreme Court after Nevada loss
The Ninth Circuit’s refusal leaves Kalshi with one option left to overturn the Nevada ruling: the US Supreme Court.
The hit
The Ninth Circuit Court of Appeals has refused Kalshi’s request for a rehearing of its Nevada sports contracts case, according to Legal Sports Report. The same three-judge panel that ruled against Kalshi in August unanimously denied both panel rehearing & rehearing en banc on Wednesday. Kalshi’s only remaining path to overturn the ruling is the US Supreme Court.
Why it matters
The ruling leaves the Nevada Gaming Control Board free to enforce state gambling law against Kalshi, with the panel finding its sports event contracts likely do not qualify as federal swaps. The Sixth Circuit went further in a separate loss for Kalshi, ruling the contracts are not swaps & that state law is not preempted either way.
The record
| Rehearing request | Panel rehearing & rehearing en banc both denied |
|---|---|
| States covered by ruling | Nevada, Alaska, Arizona, California, Hawaii, Idaho, Montana, Oregon, Washington |
| Sixth Circuit loss | Ohio & Tennessee gambling laws upheld against Kalshi’s sports contracts |
| Favourable ruling | Third Circuit upheld Kalshi’s New Jersey injunction 2-1 in April |
What happens next
Kalshi has 90 days from Wednesday’s denial to petition the Supreme Court, where New Jersey is already seeking review of the same legal question over sports event contracts.
Sources: US Appeals Court Denies Kalshi Request For Rehearing – Legal Sports Report
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