US CFTC moves to block Michigan court order forcing Kalshi to cancel trades

The US Commodity Futures Trading Commission (CFTC) has moved to prevent prediction market platform Kalshi from complying with a Michigan court order to cancel trades. The federal derivatives regulator argued it was inappropriate for Michigan to "bully" a federally regulated firm into reversing transactions. The dispute centres on a jurisdictional clash between federal oversight and state court authority.

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📈 Business CFTC orders Kalshi to honour Michigan prediction market bets, defying state regulators The Block · 9d ago 📈 Business Michigan blocks Kalshi with 14-day restraining order on sports prediction markets The Block · 24d ago 📈 Business Washington court blocks Kalshi sports prediction markets as illegal gambling The Block · 3d ago