By Johnny ElHachem ( May 12, 2026, 4:19 PM EDT) -- On April 6, a divided U.S. Court of Appeals for the Third Circuit panel issued a landmark ruling in KalshiEx LLC v. Flaherty, becoming the first federal appellate court to hold that the Commodity Exchange Act preempts state gambling laws as applied to sports-related event contracts traded on designated contract markets, or DCMs, registered with the U.S. Commodity Futures Trading Commission....
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