Jon Brodkin's Ars Technica article reports that two circuit appeals courts rejected Kalshi's bids to block state gambling laws in Connecticut, New York, and Nevada, while the prediction market faces a new Arkansas lawsuit from Attorney General Tim Griffin. Kalshi claims its wagers are CFTC-regulated swaps, a view the Trump administration backs, and Ars Technica writes the Supreme Court may ultimately settle whether states can enforce gambling laws against it.