Noteworthy News

[Angrboda]

On Friday, the U.S. Court of Appeals for the 9th Circuit “rejected prediction market platforms’ requests for injunctive relief against the Nevada Gaming Control Board, concluding that sports-related event contracts are not a derivative regulated by the federal government” and are, instead, subject to state gambling laws, according to CNBC. “Under scrutiny were the platforms’ sports-related event contract offerings, which 44 states argue are nothing more than sports betting. However, the platforms – and their federal regulator, the Commodity Futures Trading Commission – claim all event contracts, no matter the topic, are swaps. Swaps are a type of derivative under the purview of the CFTC, and the agency asserts that it has the exclusive jurisdiction to regulate all event contracts.” CNBC noted that “[l]egal experts have widely expected that the question of sports-related event contracts, and whether state gaming regulators or the CFTC has the right to regulate them, will eventually reach the Supreme Court,” adding that this “now appears very likely, as the 9th circuit’s decision contradicts a ruling from the 3rd U.S. Circuit Court of Appeals,” creating what’s known as a circuit split.

https://www.scotusblog.com/2026/08/updat...n-ballots/