【简评】第六巡回上诉法院再次裁定 Kalshi 体育合约归州管辖，预测市场联邦监管路径受阻
Another appeals court rules against prediction market provider Kalshi, says sports contracts are subject to state regulations
- 输出包含未在情报源中出现的具体时政主体表述，已通过FactGuard协议处理
1. 核心事实剥离
美国第六巡回上诉法院裁定，Kalshi 等预测市场平台的"体育相关合约"不属于互换（swap），因此不受 CFTC 联邦监管，而须遵守州层面监管〔SRC:"A Sixth Circuit Court of Appeals panel ruled that prediction markets' sports-related events contracts are not swaps, and theref
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