According to CoinMeta, on September 25th, the U.S. Sixth Circuit of Appeals ruled that Ohio and Tennessee may enforce state gambling laws on the sports betting platform Kalshi. The court upheld the decision of a federal judge in Ohio to refuse to stop state regulatory authorities from enforcing the law, and revoked the protection order granted to Kalshi by Tennessee. The court held that Kalshi failed to prove that its sports betting contracts were swap contracts under the exclusive jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC), and that federal law does not exclude the application of state gambling laws. This ruling is still in the temporary injunction phase, and the two states may enforce relevant laws during the duration of the case. An appeal involving Maryland is still being heard by the Fourth Circuit of Appeals.