A US appeals court rules that Kalshi's sports contracts are not "swaps" subject only to CFTC regulation, allowing states to regulate them under gambling laws (Jonathan Stempel/Reuters)

A federal appeals court ruled that Kalshi’s sports contracts are not "swaps," allowing states to regulate them under gambling laws. Meanwhile, a New Mexico jury found Meta liable for misleading residents regarding data sharing and content moderation. Additionally, a federal court upheld the Pentagon's decision to blacklist Anthropic due to national-security risks associated with Claude.