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CFTC sues Utah to protect Kalshi and prediction markets in federal jurisdiction fight, CoinCentral reports
- CFTC sues Utah to protect Kalshi and prediction markets in federal jurisdiction fight, CoinCentral reports — CoinCentral reports the CFTC sued the State of Utah and Attorney General Derek Brown in federal court, arguing the state is intruding on federal authority over prediction markets after Utah filed a lawsuit against Kalshi seeking to recover up to 60 million dollars in profits tied to event contracts. The filing is the CFTC's tenth lawsuit against a state over its claimed exclusive jurisdiction, and argues the contracts are swaps under the Commodity Exchange Act offered on CFTC-regulated designated contract markets. (CoinCentral)
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