Overview

• On August 18, Kalshi informed the CFTC that it had listed new football player-prop, point-spread and over/under contracts
• The offerings, currently limited to football, let users trade on player touchdowns, game point spreads and total scores as federally regulated event contracts
• In a Maryland federal court ruling this month, Judge Adam B. Abelson found no meaningful distinction between Kalshi’s sports markets and standard sportsbooks
• Kalshi immediately appealed that decision and will continue operations in Maryland and other states pending a Fourth Circuit review
• The company is facing lawsuits from at least five states and three Native American tribes while leveraging partnerships with Robinhood and a $185 million funding round led by Paradigm to support its nationwide push