From Indiana regs...
http://www.eregulations.com/indiana/hunting/deer-seasons-licenses-equipment/ Handguns, other than muzzleloading, must have a barrel at least 4 inches long and must fire a bullet of .243-inch diameter or larger. The handgun cartridge case, without the bullet, must be at least 1.16 inches long. Full metal-jacketed bullets are not permitted. The handgun must not be a rifle that has a barrel less than 18 inches or be designed or redesigned to be fired from the shoulder.
Bullet diameter: 0.308 in (7.8 mm)
Case length: 1.368 in (34.7 mm)
It appears this firearm meets the reg requirements for a legal deer hunting handgun in the state of Indiana.
BTW, this exact question was asked on another forum of a conservation officer and that officer agreed the firearm was legal.