Lookonchain APP

App Store

Kalshi Ban Request Denied, US Judge Rules Prediction Market Not Preempted by State Gambling Law

2026.03.11 07:56:57

March 11 — Chief Judge Sarah D. Morrison of the U.S. District Court for the Southern District of Ohio ruled there is no historical evidence Congress intended federal law to preempt state sports betting regulations, rejecting a preliminary injunction request from prediction market platform Kalshi. Earlier, Kalshi sued the Ohio Casino Control Commission to block enforcement action against its event contracts under state gambling law. Last year, the commission accused Kalshi of operating illegal sports betting in Ohio. Kalshi argued its event contracts are regulated under the Commodity Exchange Act as derivative transactions (overseen by the CFTC), meaning federal rules should take precedence over state gambling laws. But the judge cited historical and legislative context: no proof Congress intended that law to preempt state sports betting rules. She noted that when the Dodd-Frank Act amended relevant laws in 2010, the U.S. still broadly restricted sports betting. Kalshi plans to appeal the ruling. The case is a key test of prediction markets’ legal status, with the outcome potentially impacting compliance prospects for other U.S. platforms like Polymarket.
Relevant content

US Stocks Close Higher with Crypto-related Stocks Up Across the Board, HOOD Surges Over 10%

April 15 – Per data from Bitget, U.S. stocks closed higher, with the Dow Jones Industrial Average (Dow) up 0.66%, the S&P 500 gaining 1.18%, and the Nasdaq Composite rising 1.96%. Notably, the Nasdaq posted a 10-day winning streak. Crypto-related stocks rallied across the board, with key moves including: - Robinhood (HOOD): +10.35% - Circle (CRCL): +6.90% - Sharplink Gaming (SBET): +6.57% - Gemini (GEMI): +6.25% - Coinbase (COIN): +5.65% - Riot Platforms (RIOT): +4.32% - Bullish (BLSH): +4.26% - American Bitcoin (ABTC): +4.07%

5 minutes ago

Trump Declares End of Iran War

On April 15, Fox News reported that U.S. President Donald Trump took part in a new media interview. When the host asked about the Iran issue, he stated the Iran war has ended. Trump also shared his views on NATO and economic matters. The interview is scheduled to air on the evening of April 15 Beijing time. (Note: Last month, Trump claimed the Iran conflict "has all but concluded") (FXStreet)

5 minutes ago

US Media: Over 100 Tankers Head to US to Ship Oil

April 15 (CBS) — The White House announced Wednesday that 103 oil tankers are en route to U.S. ports to load American crude oil. Amid the global oil crisis, the administration stressed the U.S. is serving as a "vital lifeline to the world" thanks to record domestic energy production. The Trump administration noted that of the 103 empty vessels, 54 are Very Large Crude Carriers (VLCCs) — each capable of transporting roughly 2 million barrels of crude. Per the U.S. Energy Information Administration (EIA), the U.S. is the world’s largest oil producer, with pre-conflict daily production at 13 million barrels. The nation exports about 11 million barrels per day (bpd) and imports 8 million, making it a net oil exporter.

5 minutes ago

WSJ: Over 20 Commercial Ships Passed Through the Strait of Hormuz in the Last 24 Hours

WSJ reported on April 15 that two U.S. officials disclosed more than 20 merchant vessels transited the Strait of Hormuz in the past 24 hours. While commercial shipping volume remains a small fraction of pre-war levels, traffic in the key waterway has improved. One official said the ships included cargo vessels entering and exiting the Persian Gulf, container ships, and oil tankers. Some turned off their transponders during transit to mitigate the risk of Iranian attacks. During wartime, most ships hesitated to navigate the narrow waterway due to threats of Iranian attacks and mines. Currently, the U.S. is enforcing a blockade on Iranian ports; ships not bound for Iranian ports are exempt and may transit freely.

5 minutes ago

Fed's Harker: Rate Cut May Not Come Until 2027

April 15 (Krypton Capital) — Chicago Federal Reserve President Gulsbee said Tuesday that if the Iran war drives long-term high oil prices and slows inflation’s return to the Fed’s 2% target, the central bank may hold off on rate cuts until 2027. Addressing the Semafor World Economic Conference, Gulsbee noted: “I initially expected multiple rate cuts in 2026. But if this situation persists and inflation stays elevated without showing signs of decline, the timeline will push beyond 2026. Our mandate is to bring inflation back to 2%.” Once a more optimistic voice within the Fed, Gulsbee had previously argued tariff-driven inflation would ease this year, enabling the central bank to resume rate cuts. His confidence has since waned, however. “In some scenarios, rates could rise; in others, this proves temporary: once the Middle East oil shock resolves and inflation falls toward our 2% target, rate cuts will be back on the table,” he said.

5 minutes ago

Israeli-Lebanese Washington Talks End After Over Two Hours

April 15th: The two-plus-hour Lebanon-Israel meeting in Washington has concluded, per the Israeli Embassy in the U.S. Representatives from the Israeli and Lebanese governments held direct talks in the U.S. capital on April 14th. Notably, Israel and Lebanon have no diplomatic ties. This gathering marks the **first direct non-military talks between the two countries in decades**. U.S. Secretary of State Mike Pompeo met with both delegations at the State Department on the 14th and participated in the talks held there. The Israeli delegation was led by Gilad Erdan, Israel’s Ambassador to the U.S., while the Lebanese side was headed by Najla Eljath, Lebanon’s Ambassador to the U.S. Also joining were Dorothy Shea, U.S. Ambassador to Lebanon, and Michael Nides, a State Department advisor.

5 minutes ago