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CFTC and Justice Department sue Utah to block state enforcement against Kalshi, their tenth state case and the first against a Republican-led state, SCCG reports
- CFTC and Justice Department sue Utah to block state enforcement against Kalshi, their tenth state case and the first against a Republican-led state, SCCG reports — SCCG reports the CFTC and the Department of Justice filed a 33-page federal complaint seeking to stop Utah Attorney General Derek Brown from applying state gambling restrictions, election betting prohibitions or public nuisance laws to CFTC-registered exchanges, after Utah sued Kalshi and two Susquehanna trading firms on October 20. Utah seeks to block contracts on sports, elections, politics and culture for state residents and estimates Kalshi collected between 30.6 million and 61.2 million dollars in fees from Utah accounts. (SCCG)
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