Appeals court blocks New Jersey from shutting down Kalshi's sports markets
Burns Brief
The Third Circuit Court of Appeals ruled that New Jersey could not bring an enforcement action against Kalshi, finding that the federal Commodity Exchange Act preempted state gambling laws Market sentiment is turning positive, with traders and analysts pointing to potential follow-through momentum in the coming sessions. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.
The Third Circuit Court of Appeals ruled that New Jersey could not bring an enforcement action against Kalshi, finding that the federal Commodity Exchange Act preempted state gambling laws.
Key Takeaways
- The Third Circuit Court of Appeals ruled that New Jersey could not bring an enforcement action against Kalshi, finding that the federal Commodity Exchange Act preempted state gambling laws