U.S. agency hits Utah with lawsuit to shield Kalshi’s ability to offer betting there
The U.S. Commodity Futures Trading Commission has pursued more than a dozen legal actions to protect what its chief sees as its sole power over prediction markets.
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Summary
- The Commodity Futures Trading Commission has added to its lengthy lists of court actions against states in its ongoing commitment to protect its position as the lone regulatory authority over Kalshi and other prediction market firms — this time, Utah.
- Gambling is illegal in the state, which has been pursuing a legal effort to halt Kalshi’s offerings there, but the CFTC is arguing its federal authority preempts the state’s.
