The U.S. Commodity Futures Trading Commission (CFTC) has filed an amicus curiae brief with the U.S. Court of Appeals for the Sixth Circuit, supporting prediction market platform Kalshi in its legal battle against the state of Ohio. Ohio claims Kalshi's operations amount to unlicensed sports betting, but the CFTC argues these markets fall under federal jurisdiction, not state control. CFTC Chair Michael Selig criticized the Ohio district court's narrow interpretation of the CFTC's authority and hopes the appellate court will rectify this.
This legal action is part of the CFTC's broader effort to assert its regulatory authority over prediction markets, having initiated similar actions against several other states, including Wisconsin, Illinois, Arizona, Connecticut, and New York. As platforms like Kalshi and Polymarket grow in popularity, the conflict over regulatory boundaries between federal and state governments intensifies.
CFTC Backs Kalshi in Jurisdictional Dispute with Ohio
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