CFTC Sues Utah Over Prediction Market Action
Edited by Steinar Vigdel Kolnes, Editor, Oslo
The CFTC is seeking to block Utah’s action against prediction markets after the state sued Kalshi to recover up to $60 million in profits.
The US Commodity Futures Trading Commission has sued Utah in an effort to stop the state from taking action against prediction markets, according to Cointelegraph.
The federal lawsuit follows a case Utah filed against prediction market operator Kalshi last week.
Utah is seeking to recover as much as $60 million in profits linked to event contracts offered on prediction markets.
Source: Cointelegraph
