Episode Details

Tennessee’s AG is fighting in federal court to keep state control over Kalshi’s sports prediction markets, arguing they’re just another form of betting like DraftKings. Kalshi counters that their “swaps” are federally regulated financial instruments, exempt from state gambling laws — a claim courts are split on nationwide. With a bipartisan congressional bill targeting these platforms looming, Tennessee’s case could set a key precedent in the ongoing national debate over how to classify and regulate prediction markets.

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