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By The Weekly Edge desk ·
Legal Sports Report reported that a federal judge ruled Utah’s gambling laws apply to Kalshi sports-event contracts. The judge rejected the company’s federal commodities-law pre-emption argument.
The decision permits Utah to enforce its gambling rules against Kalshi’s sports contracts.
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The partnerships give the tribes customer-facing apps while Kalshi operates the underlying exchange and settles transactions.
Four additional tribal agreements give tribes app ownership and customer management while Kalshi supplies exchange services.
Kalshi’s sponsorships expand MLB prediction market partnerships, with four new partners playing in states that prohibit sports betting.
The agreements give Kalshi advertising exposure and fan engagement opportunities across five MLB teams.
JPMorgan’s estimate gives investors potential additional EBITDA from Genius Sports’ agreements with Kalshi and Polymarket.
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