CFTC and DOJ sue Utah, the CFTC's 10th state, to block state crackdown on federally regulated prediction markets

CFTC Chair Michael Selig and the Department of Justice have sued Utah, the CFTC's 10th state target, to block the state's efforts to shut down CFTC-registered prediction markets like Kalshi, arguing the Commodity Exchange Act overrides state gambling laws and that the regulator holds exclusive federal jurisdiction.

Detected & updated continuously · Source: Nebula