revenues for the operation of the tribal governments and are the major sources of employment for tribal members.” 480 U.S. at 203. Moreover, Congress declared in IGRA that, “a principal goal of Federal Indian policy is to promote tribal economic development, tribal self-sufficiency, and strong tribal government,” and “Indian tribes have the exclusive right to regulate gaming activity on Indian lands if the gaming activity is not specifically prohibited by Federal law and is conducted within a State which does not, as a matter of criminal law and public policy, prohibit such gaming activity.” 25 U.S.C. §§ 2701(4), (5) (emphasis added). Kalshi tramples upon established federal Indian policy by usurping the rights of tribes to regulate gaming on Indian land and by siphoning revenue from tribal governments. The IGRA mandates that tribes have the exclusive right to regulate gaming on Indian lands, and sports betting is lawful only if conducted in conformance with a tribal-state compact. 25 U.S.C. §§ 2701(5), 2710(d)(1)(C); 25 C.F.R. § 502.4(c). Kalshi violates this exclusive right. Kalshi’s intrusion is particularly dangerous because it does not comply with any gaming regulations that protect consumers, ensure fairness, or mitigate negative gaming impacts. In fact, Kalshi’s “self-certified” sports betting products are wholly unregulated by any gaming authority.
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