<div><img width="300" height="200" src="https://readwrite.com/wp-content/uploads/2026/09/Kalshi-Ninth-Circuit-ruling-threatens-federal-prediction-market-model-300x200.png" class="attachment-medium size-medium wp-post-image" alt="Kalshi logo beside the Ninth Circuit courthouse following a ruling that its sports prediction contracts constitute gambling." style="width:100%;height:66.67%;max-width:1200px;margin-bottom: 15px;" decoding="async" srcset="https://readwrite.com/wp-content/uploads/2026/09/Kalshi-Ninth-Circuit-ruling-threatens-federal-prediction-market-model-300x200.png 300w, https://readwrite.com/wp-content/uploads/2026/09/Kalshi-Ninth-Circuit-ruling-threatens-federal-prediction-market-model-900x600.png 900w, https://readwrite.com/wp-content/uploads/2026/09/Kalshi-Ninth-Circuit-ruling-threatens-federal-prediction-market-model-240x160.png 240w, https://readwrite.com/wp-content/uploads/2026/09/Kalshi-Ninth-Circuit-ruling-threatens-federal-prediction-market-model.png 1200w" sizes="(max-width: 300px) 100vw, 300px" /></div>
<p>The Ninth Circuit has called Kalshi’s contracts what its advertising already did: sports betting.&#160; Kalshi’s marketing department wrote the opening&#8230; <a class="more-link" href="https://readwrite.com/kalshi-ninth-circuit-ruling-federal-prediction-market/">Continue reading <span class="screen-reader-text">Kalshi Ninth Circuit ruling threatens federal prediction market model</span></a></p>
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