Kalshi: US states have no regulatory authority over prediction markets; Washington state's regulatory actions are a waste of taxpayers' money
According to Odaily, the head of public relations at Kalshi stated that individual U.S. states do not have judicial authority to regulate prediction markets, and several courts, including the federal Third Circuit Court of Appeals, have established this legal boundary through case law.
Kalshi expressed disappointment with Washington State for continuing to devote public financial resources to advancing related regulatory actions and believes that regulatory authority over prediction markets should reside at the federal level.
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