In a setback for Kalshi, a New York-based sports prediction market, a federal judge in Ohio denied the companys request to block state gambling regulators from enforcing sports betting laws. Kalshi, which allows bets from age eighteen, claims its sports contracts are federally regulated financial swaps. However, the judge sided with Ohio, stating that sports bets as swaps would disrupt existing sportsbooks. Kalshi plans to appeal the decision, while similar legal battles continue in at least eight states.
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