News · Regulation & Policy
The federal agency argues Utah's gambling laws obstruct federal oversight, while the state levels 14 felony counts against Kalshi's top executives.
Key point 1 of 3
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The CFTC sued Utah to stop state-level enforcement actions against federally registered prediction exchange Kalshi.
Key point 2 of 3
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Utah charged Kalshi and its two co-founders with 14 felony counts for violating constitutional and statutory gambling prohibitions.
Key point 3 of 3
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A growing circuit split between federal appeals courts points toward potential US Supreme Court review of prediction market preemption.
Context
Federal regulators and state attorneys general have clashed across roughly 20 states regarding whether event contracts constitute federally preempted swaps under the Commodity…
Why it matters
A ruling against federal preemption would subject registered platforms like Kalshi, along with sports-wagering operators offering event markets, to a patchwork of state-level…
What to watch
The US Supreme Court will consider whether to take up New Jersey's petition to resolve the circuit split on prediction market regulation.
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