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- Source: inbox/queue/2026-05-08-defirate-fourth-circuit-kalshi-panel-skeptical.md - Domain: internet-finance - Claims: 0, Entities: 1 - Enrichments: 3 - Extracted by: pipeline ingest (OpenRouter anthropic/claude-sonnet-4.5) Pentagon-Agent: Rio <PIPELINE>
500 B
500 B
Max Brauer
Role: Attorney representing Maryland in Fourth Circuit preemption case against Kalshi
Key Argument: Sports event contracts don't fit the statutory 'swaps' definition and remain subject to state regulation under traditional police powers.
Timeline
- 2026-05-07/08 — Argued Maryland's position before Fourth Circuit three-judge panel in KalshiEX LLC v. Martin (No. 25-1892). Panel appeared receptive to argument that sports contracts fall outside CEA preemption scope.