CFTC Sues Utah Over Kalshi Prediction Market Crackdown
Edited by Steinar Vigdel Kolnes, Editor, Oslo
The CFTC is challenging Utah’s gambling enforcement against Kalshi, setting up a dispute over federal oversight of prediction markets.
The Commodity Futures Trading Commission has sued Utah over a state gambling crackdown targeting prediction market platform Kalshi, according to Bitcoin.com News.
The lawsuit challenges Utah’s use of gambling restrictions against prediction markets. The federal derivatives regulator argues that the state’s approach threatens its oversight authority.
The dispute could affect $61.2 million in trading fees, the report said. It places federal regulation of prediction markets in conflict with Utah’s particularly strict gambling prohibitions.
Source: Bitcoin.com News
