WASHINGTON — Emily’s List, which backs the candidacies of Democratic women who support abortion rights, gained a victory in federal court on Friday in a fight with the Federal Election Commission.

The United States Court of Appeals for the District of Columbia Circuit ruled that the commission exceeded its authority several years ago when it created rules restricting how nonprofit groups spend their money to support state and local candidates. Reversing a federal district court ruling, the appeals court agreed with Emily’s List that the F.E.C. rules violated the First Amendment.

Will the Supreme Court look at the case? Perhaps. In any event, the appeals court ruling is surely not the last word in the long-running, multi-faceted debate over the place of money in politics.