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Connecticut judge rules CFTC cannot override court reading of federal law in Kalshi case
- Connecticut judge rules CFTC cannot override court reading of federal law in Kalshi case — U.S. District Judge Vernon Oliver ruled the CFTC lacks authority to override the court interpretation of federal law in the Connecticut prediction markets case, finding its August 11 market emergency order did not change his earlier analysis. The ruling follows his denial of Kalshi request for a preliminary injunction, after he found its sports-event contracts do not qualify as swaps under the Commodity Exchange Act. (GambleRss)
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