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Connecticut judge rules CFTC cannot override court's reading of federal law in Kalshi case
- Connecticut judge rules CFTC cannot override court's reading of federal law in Kalshi case — U.S. District Judge Vernon D. Oliver rejected Kalshi's bid to use a CFTC market-emergency order as grounds for an injunction against Connecticut's gaming laws, finding the commission lacks authority to override the court's reading of federal law. The ruling followed an earlier decision that Kalshi's sports-event contracts do not qualify as swaps under the Commodity Exchange Act. (GambleRss)
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