Ninth Circuit Opinion Provided 'More Confusion Than Clarity,' Says Kalshi Board Member

Brian Quintenz, KalshiEx Board Member and former CFTC Commissioner, said that the recent decision handed down by the Ninth Circuit Court of Appeals provided the company and customers 'more confusion than clarity' when it ruled sports prediction markets can be prosecuted as unlicensed sportsbooks. Quintenz said that prediction market regulation will come down to the Supreme Court to define and that within the law events that have 'any financial, commercial or economic consequence' can have legal derivatives listed upon it because it involved risk. (Source: Bloomberg)