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title: "Third Circuit — GEORecall"
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# Third Circuit

**Type:** organization  
## Related Articles

- [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)](https://stuffthatspins.com/spin/a-us-appeals-court-rules-that-kalshis-sports-contracts-are-not-swaps-subject-only-to-cftc-regulation-allowing-states-to-) — September 25, 2026

## Related Claims

- A US appeals court ruled that Kalshi's sports contracts are not 'swaps' subject only to CFTC regulation, allowing states to regulate them under gambling laws.

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