The campaign focuses on California, Texas, Georgia and Florida, where sports betting is limited or banned and event contracts have found demand.
The 3-0 ruling said the wagers are sports bets, not swaps, in a setback for Kalshi, Crypto.com and Robinhood.
They say the change would siphon tribal gaming revenue and clash with Indian gaming law.
Henry Williams called a CFTC proposal “meritless” as Michigan’s exit from the problem-gambling council fed a fight over who sets the rules.
The company says its sports event contracts are federally regulated derivatives, not state gambling, and warns of felony exposure.
The companies said the tie-up will keep geolocation, identity and fraud tools in place as FanDuel’s betting and prediction-market businesses expand.
The emergency move came after state officials accused the prediction-market platform of running an illegal gambling business and sought more than $36 billion in damages.
The ruling adds to a patchwork of court outcomes as states test whether the exchange’s products are derivatives or gambling.
A Harrah’s management deal in Oklahoma is among the decisions frozen while the federal regulator waits for a chair.
Jackson will step down at the end of September as the group lowers U.S. guidance and pushes deeper into FanDuel and prediction markets.
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