Regulation

A Ninth Circuit panel ruled on August 28, 2026 that Kalshi failed to show the Commodity Exchange Act preempts Nevada's gaming law, upholding dissolution of Kalshi's injunction and leaving intact Nevada's cease-and-desist covering both Kalshi's election and sports event contracts. The ruling conflicts with an April 2026 Third Circuit decision; the CFTC says the split needs Supreme Court review.