According to Bloomberg Law, the U.S. Sixth Circuit Court of Appeals held oral arguments on whether Kalshi's sports event contracts can be exempt from state gambling laws. Judge Eric L. Clay questioned Kalshi's stance, pointing out that it remains unclear whether the Commodity Exchange Act covers products widely regarded as sports betting and whether they should solely be regulated by the CFTC. During the hearing, Kalshi and the relevant state governments primarily debated whether the Commodity Exchange Act precludes state-level gambling regulation. https://(wublock123.com)/news/us-6th-circuit-oral-argument-kalshi-sports-contracts-state-gambling-law-65632