Just listen to the overwhelming silence from the “states’ rights” crowd.
Most people invoke the "states' rights" platitude when the federal government oversteps on constitutional matters that haven't been specifically legislated. In this case, Congress already passed a law regulating these activities, and it seems pretty clear-cut that Kalshi engages in interstate commerce, so New York will likely lose if this gets to the Supreme Court. That's not to say I think event prediction markets a…
> In this case, Congress already passed a law regulating these activities, and it seems pretty clear-cut that Kalshi engages in interstate commerce, so New York will likely lose if this gets to the Supreme Court.
That is a wild take. Interstate regulatory power does not prevent a state from passing laws regulating things happening inside its own state.