CFTC Requires Kalshi to Continue Operating Prediction Markets in New York
2026-08-11 21:36
Odaily News: The U.S. Commodity Futures Trading Commission (CFTC) announced that it has required prediction market operator Kalshi to continue operating in New York. Previously, New York Attorney General Letitia James filed a lawsuit against the company in late July, seeking to shut down the platform.
The CFTC stated that after Kalshi sought assistance, the regulator invoked its "emergency powers" to require the company to continue operations.
This action has intensified the rift between federal commodity regulators and state regulators over prediction markets. States argue that at least sports-related prediction markets constitute gambling platforms and violate state regulations; CFTC Chairman Mike Selig stated that Congress did not intend for derivatives exchanges to be subject to a regulatory framework composed of state gambling laws. (CoinDesk)
The CFTC stated that after Kalshi sought assistance, the regulator invoked its "emergency powers" to require the company to continue operations.
This action has intensified the rift between federal commodity regulators and state regulators over prediction markets. States argue that at least sports-related prediction markets constitute gambling platforms and violate state regulations; CFTC Chairman Mike Selig stated that Congress did not intend for derivatives exchanges to be subject to a regulatory framework composed of state gambling laws. (CoinDesk)
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