Is Kava a security?

Could you please clarify for me whether Kava should be considered a security? I'm trying to understand its legal status and potential risks involved. Could you explain the characteristics that would categorize Kava as a security, and also discuss any relevant regulatory frameworks or legal precedents that might apply? Additionally, would you mind providing insights into the potential impact of treating Kava as a security on its market positioning and user adoption? Thank you for your assistance in clarifying this matter.