A court ruled that Kalshi’s sports betting products are not “swaps” and instead constitute gambling. The decision addresses how the bets should be classified under applicable rules, affecting Kalshi’s ability to operate under that characterization.
WHO:Kalshi
WHAT:A court ruled Kalshi’s sports betting products are not “swaps” and are gambling.
WHEN:Reported Aug 28, 2026 at 6:14 PM ET
WHERE:USA
WHY:The ruling was issued in response to a dispute over whether Kalshi’s sports betting products qualify as “swaps.”
How this story developed (showing 2 of 2 earlier reports)
