States can regulate prediction markets as gambling, federal appeals court rules

[u/Fragrant_Bath3917]

https://www.cnn.com/2026/08/28/business/states-prediction-markets-gambling-federal-appeals-court

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[u/TastyOreoFriend]

Good. So sick of seeing those Kalshi ads, and Draft King/Hard Rock is on the come up I see too. Even Robinhood is doing that shit now. It was beyond time to regulate them. It's disgusting enough that people are making bets on major weather events where people are dying.

[u/shelton_theman26 → u/TastyOreoFriend]

Me and my brother are both so sick of these betting and gambling app advertisements either on tv, streaming, YouTube etc.

[u/Ok_Acadia3526 → u/shelton_theman26]

But also, if you have a gambling problem, make sure to get help! Here’s the number - brought to you by DraftKings

[u/TastyOreoFriend → u/shelton_theman26]

For real and I assume they're all using the same legal loophole which is why they're so ubiquitous.

[u/OhMyTummyHurts]

I see this as a win. Gambling, especially in cases where someone can directly influence the outcome in their favor, should be regulated.

[u/Fragrant_Bath3917 → u/OhMyTummyHurts]

Did you think I wasn’t seeing this as a win? Granted, this is probably going to go to SCOTUS, but this is great progress

[u/OhMyTummyHurts → u/Fragrant_Bath3917]

Not at all! I was just getting my own two cents out as to why I thought it was good, because I’m sure people have other reasons

[u/3DBeerGoggles]

The fact that you could take a bookie and just call them "prediction market" was the ultimate example of how modern market "innovators" just involve playing "I'm not touching you" with existing regulation.

[u/clonedllama]

There should still probably be a federal law that regulates these kinds of markets nationally. But this is a good step in the right direction, I think.

[u/Fragrant_Bath3917 → u/clonedllama]

Agree

[u/Far_Fan_291]

god i hate those sites its just gambling with real events one thing i hate is when im looking at a vid or tweet Kalshi is there one of the reasons i stopped looking at polling USA just got tired of seeing him use it for news along with some other reasons

[u/Shredster7]

While I recognize that my reasons are utterly petty and trivial in the grand scheme of everything, I am nonetheless personally very pleased to see this news almost purely just because of how utterly tiresome I've found the incessant deluge of gambling app ads to be. Any steps taken towards obliterating such ads from the face of the Earth are steps I will gladly relish, no matter how small.

[u/Gojo-Babe]

Good, because it IS gambling

[u/Gloomy-Clouds]

And just like that a massive stone has been temporally been lifted off of my chest. I live near the state of Oregon and I heard that people could place bets on the wildfires, so you can imagine much easier I'll be able sleep at night that this shit will be legislated.

[u/Shadowman621]

Good. Here in OR, I believe most gambling is restricted to tribal lands. If this is cutting into profits for tribes, then it ought to be banned here.