The U.S. Commodity Futures Trading Commission (CFTC) has filed an amicus curiae brief with the Sixth Circuit Court of Appeals, supporting Kalshi in its legal dispute with Ohio. The CFTC is seeking confirmation of its regulatory authority over prediction markets, challenging Ohio's decision to halt Kalshi's sports event contracts, which the state deemed unlicensed sports betting. Kalshi's initial lawsuit against Ohio's enforcement actions was dismissed in March, leading to an appeal.
CFTC Chair Mike Selig criticized the federal district court in Ohio for its narrow interpretation of the Commission's jurisdiction, emphasizing the need for the appellate court to rectify this. Selig reiterated the CFTC's commitment to maintaining its regulatory authority against state overreach in prediction markets.
CFTC Backs Kalshi in Legal Battle Over Prediction Market Jurisdiction
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