Case: 25-7504, 01/16/2026, DktEntry: 38.1, Page 2 of 47
TABLE OF CONTENTS Interests of Amici Curiae .......................................................................... 1 Background................................................................................................ 3 I. State and Federal Regulation of Sports Wagering ..................... 3 A. Early State Prohibitions and the Federal Wire Act.............4 B. IGRA...................................................................................... 6 C. PASPA and UIGEA............................................................... 7 D. Murphy and Its Aftermath ................................................. 10 II. Kalshi’s Unlicensed Sports-Wagering Platform ....................... 11 III. Nationwide Litigation Landscape ............................................. 14 Argument................................................................................................. 16 I. IGRA bars Kalshi from offering sports wagers on Indian lands. .......................................................................................... 17 II. UIGEA does not excuse Kalshi’s IGRA violation...................... 21 A. UIGEA does not supplant IGRA’s substantive prohibitions. ........................................................................ 21 B. The scope of UIGEA’s exception for certain CEA- related transactions is immaterial. .................................... 24 III. The CEA does not excuse Kalshi’s IGRA violation................... 26 A. Kalshi’s interpretation conflicts with the text and structure of the CEA and related statutes......................... 27 B. The necessary implications of Kalshi’s interpretation further undermine its interpretation. ................................ 30 C. The clear-statement rule and presumption against implied repeal foreclose Kalshi’s interpretation. ............... 32 Conclusion ............................................................................................... 35 Certificate of Compliance ........................................................................ 39
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