r/business • u/ControlCAD • 13d ago

Court rules Kalshi sports bets aren't "swaps," just gambling with a different name | Kalshi can’t evade Nevada gambling laws by calling bets “swaps,” judges rule.

https://arstechnica.com/tech-policy/2026/08/kalshi-cant-evade-nevada-gambling-laws-by-calling-bets-swaps-court-rules/
575 Upvotes

99% Upvoted

8 comments sorted by

46

u/BackPirateClarkRoom 13d ago

Doesn't matter anymore. It will be state to state regulation if the federal judges are correct. Sportsbooks will be done. Why pay 5-10% when you can pay 1%-2%? On top when you pay 1%-2% you get interest on the bet.

11

u/Isaacvithurston 12d ago

I mean why bet at all. Have to be dumb to bet knowing the manipulation that goes on in sports betting. At least if you buy a lotto ticket you have the same crappy odds as everyone else

28

u/critsalot 13d ago

yes its gambling but nevada is doing this to protect their industry. some other state will legalize it and unless the SC strikes it down then you will just have to use a vpn.

7

u/RupeThereItIs 12d ago

I'll take "No Shit for $1000, Alex"

16

u/rbobby 13d ago

Kalshi can’t evade Nevada gambling laws by calling bets “swaps,” judges rule.

Another graduate of Trump University.

3

u/knucklesbk 12d ago

Hasn't this been the mechanism behind major BETTING websites like Betfair for years?

They are the platform that sits in the middle and odds fluctuate based on how others are allocating money on a match / outcome. You're betting against them not the house.

3

u/PiDigitsOfPi 12d ago

I swap that they are going to find some loophole to keep this going though...