“CFTC Sues Utah to Block State Crackdown on Kalshi Prediction Markets | Nova Global News” — what this page in the network covers. The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the state of Utah, seeking to prevent state regulators from taking action against prediction market operator Kalshi. The move comes after Utah filed its own lawsuit against Kalshi last week, demanding the company forfeit up The move comes after Utah filed its own lawsuit against Kalshi last week, demanding the company forfeit up to $60 million in profits from event contracts.
The CFTC argues that its federal oversight preempts state enforcement, setting up a high-stakes legal battle over who regulates the rapidly growing prediction market industry. Kalshi, which offers contracts on everything from elections to economic indicators, has drawn scrutiny from multiple states concerned about gambling-like activities. The full version stays on the original page, which this listing opens directly.