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Sports BettingApril 8, 2026·1 min read
Kalshi Wins Major Appeal in New Jersey Sports Contracts Case
The Court of Appeals for the Third Circuit ruled by a 2-1 margin that sports event contracts should be regulated by the Commodity Futures Trading Commission, not state gambling regulators. Kalshi can still offer sports event contracts in New Jersey.
New Jersey regulators ordered Kalshi and Robinhood to cease offering sports event contracts last year. Kalshi later sued the state to block that order from going into effect. Kalshi later won a temporary restraining order to keep operating in the Garden State. The appeals court ruling now affirms that Kalshi can continue offering sports event contracts in New Jersey.
Judge Jane Roth dissented, arguing that traditional sports betting and sports event contracts are too similar to be seen as different activities. New Jersey has 14 days to request rehearing en banc before the court’s 14 active judges. Kalshi quickly filed the decision with a court in Arizona, where the company faces criminal charges for offering sports prediction markets.
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