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CFTC sues Utah to shield Kalshi after state files criminal charges against the exchange, Basis Desk reports
- CFTC sues Utah to shield Kalshi after state files criminal charges against the exchange, Basis Desk reports — Basis Desk reported October 29 that the CFTC sued Utah over its prediction market ban after the state filed 14 felony counts against Kalshi and its co-founders. The federal agency argues Utah gambling laws obstruct federal oversight, highlighting a circuit split over whether federal derivatives rules preempt state gambling prohibitions. (Basis Desk)
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