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flag Federal appeals court rules New Jersey cannot regulate Kalshi prediction market.

flag A federal appeals court ruled that New Jersey cannot regulate Kalshi’s prediction market, affirming that the Commodity Futures Trading Commission (CFTC) has exclusive authority over such platforms. flag The court determined that federal law preempts state gambling regulations, rejecting the state's claim that the markets resemble illegal gambling. flag This decision supports the CFTC's stance that prediction markets are financial derivatives subject to federal oversight, setting a precedent for similar cases nationwide.

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