[Kalshi Pressures U.S. Appeals Court in Bid to Alter Regulatory Direction] According to Bloomberg Law, event prediction platform Kalshi and multiple state authorities are pressuring the appeals court to alter the direction of relevant regulations. It is reported that the U.S. Sixth Circuit Court of Appeals held oral arguments on Thursday local time regarding whether prediction market platform Kalshi's sports event contracts are subject to state gambling laws. During the hearing, a judge questioned Kalshi's argument, stating that it remains unclear whether the Commodity Exchange Act (CEA) would be broadly interpreted to fully place sports betting products under the regulatory scope of the U.S. Commodity Futures Trading Commission (CFTC), thereby excluding the applicability of state gambling laws. The outcome of the case is expected to have a significant impact on the regulatory boundaries for Kalshi and prediction market platforms in the United States.