No. 23-2687 ___________________________ Bill H. Walmsley; Jon Moss; Iowa Horsemen’s Benevolent and Protective Association,

lllllllllllllllllllllPlaintiffs - Appellants,

v.

Federal Trade Commission; Lina M. Khan, Chair, Federal Trade Commission; Rebecca Kelly Slaughter, Commissioner, Federal Trade Commission; Melissa Holyoak,1 Commissioner, Federal Trade Commission; Alvaro Bedoya, Commissioner, Federal Trade Commission; Horseracing Integrity and Safety Authority; Charles Scheeler; Steve Beshear; Adolpho Birch; Leonard Coleman; Joseph De Francis; Ellen McClain; Susan Stover; Bill Thomason; D.G. Van Clief,

lllllllllllllllllllllDefendants - Appellees.

------------------------------ Senator Mitch McConnell; Representative Andy Barr; Representative Paul Tonko,

lllllllllllllllllllllAmici on Behalf of Appellee(s). ____________

Appeal from United States District Court for the Eastern District of Arkansas - Northern

1 Commissioner Holyoak is substituted for her predecessor under Federal Rule of Appellate Procedure 43(c). ____________

Submitted: June 12, 2024 Filed: September 20, 2024 ____________ Before COLLOTON, Chief Judge, MELLOY and GRUENDER, Circuit Judges. ____________ COLLOTON, Chief Judge.

The Horseracing Integrity and Safety Act establishes a framework to regulate horseracing. The Act authorizes the Horseracing Integrity and Safety Authority to make and enforce rules relating to horseracing, subject to oversight and control by the Federal Trade Commission. Bill Walmsley, Jon Moss, and the Iowa Horsemen’s Benevolent and Protective Association moved for a preliminary injunction against the enforcement of rules promulgated under the Act. They raised several constitutional challenges to the Act. The district court2 denied the motion, and we affirm.

I.

In 2020, Congress enacted the Horseracing Integrity and Safety Act. Horseracing Integrity and Safety Act of 2020, Pub. L. No. 116-260, §§ 1201-11, 134 Stat. 1182, 3252-75 (codified as amended at 15 U.S.C. §§ 3051-60). The Act authorizes the Horseracing Integrity and Safety Authority to promulgate rules regarding horseracing. The Authority is a private, nonprofit corporation. 15 U.S.C. § 3052(a). The federal government plays no role in the selection or removal of officers of the Authority. Id. § 3052(b)-(d).

2 The Honorable James M. Moody, Jr., United States District Judge for the Eastern District of Arkansas.

-2- Under the Act, the Authority must submit to the Federal Trade Commission proposed rules and proposed modifications to rules. Id. § 3053(a). The Authority’s rules cover eleven enumerated areas in the realm of horseracing, from track safety to anti-doping control. Id. The Commission must publish each proposed rule or modification submitted by the Authority, and provide an opportunity for public comment. Id. § 3053(b). Within sixty days of publication, the Commission must approve or disapprove of the proposed rule or modification. Id. § 3053(c)(1). The Commission must approve such rules or modifications if it finds that they are consistent with the relevant statute and the Commission’s approved rules. Id. § 3053(c)(2).

The Authority also has enforcement and adjudicatory functions under the Act. The Authority’s proposed rules may cover “a schedule of civil sanctions and violations” and “a process or procedures for disciplinary hearings.” Id. § 3053(a)(9)- (10). All sanctions are subject to de novo review before an a