USCA4 Appeal: 25-1892
Doc: 44
Filed: 12/22/2025
Pg: 15 of 39
Me-Wuk Indians v. California , 42 F.4th 1024, 1032 (9th Cir. 2022) (“Class III gaming is not only a source of substantial revenue for tribes, but the lifeblood on which many tribes ha[ve] come to rely .” (internal quotation marks and citations omitted and emphasis added)). Under IGRA, no gaming can occur on “Indian lands” unless it is authorized by the tribal government and is in a state that permits such gaming. 25 U.S.C. § 2710(b). Class III gaming—including sports wagering—is only authorized on Indian lands where tribes and states have entered into a compact to regulate that gaming after review by the Secretary of the Interior. 25 U.S.C. § 2710(d)(1); see also 25 C.F.R. § 502.4(c). These core provisions have remained unchanged since 1988. SUMMARY OF THE ARGUMENT To succeed, Kalshi must convince this Court that when Congress defined “swap” in its 2010 amendments to the CEA, it intended to legalize sports betting nationwide and, by extension, impliedly repeal both IGRA and the Professional and Amateur Sports Protection Act (“PASPA”). Congress intended no such thing. First, Kalshi’s sweeping interpretation of “swap” falls short of the standard for implied repeals. Congress simply did not intend to grant the Commodity Futures Trading Commission (“CFTC”)—which has historically regulated the pricing of agricultural commodities—the exclusive authority to regulate sports
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