Judge rules prediction market subject to gaming laws

(The Center Square) - An $11 billion prediction markets company appealed a federal judge's ruling that would stop it from offering sports betting lines. The ruling goes against recent court decisions in favor of Kalshi. And it adds yet another twist to the legal argument over the regulatory status of prediction markets since the Trump administration regained the Oval Office. “ This is an issue that is hotly debated clearly,” Goodwin law firm partner Andrew Kim, who specializes in gaming and appellate courts, told The Center Square. “There is no obvious right answer in terms of precedent. So there's going to be push and pull – momentum going in both directions.” This latest legal push against prediction markets dissolved an April injunction decision that had allowed Kalshi to continue offering sports betting lines in Nevada until a final decision was reached on their regulation status. Less than a year later the same judge, U.S. District Judge Andrew Gordon reversed his own decision. Th