The Supreme Court's decision in Loper Bright Industries v. Raimondo fundamentally changes the role of federal regulators by limiting their ability to interpret laws, impacting various sectors.
Following the Loper Bright ruling, a federal court has allowed a New York betting market to offer election betting, marking a first in nearly a century of prohibition.
Judge Jia Cobb's ruling emphasized that the Loper Bright decision enabled her to consider the case with a new perspective on regulatory authority over election-related gambling.
With Kalshi's decision currently under appellate review, the potential for legal political betting raises questions about oversight and market behavior in a highly charged electoral environment.
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