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Connecticut sues Kalshi to stop sports event contracts as federal judge denies injunction request, BitRss reports
- Connecticut sues Kalshi to stop sports event contracts as federal judge denies injunction request, BitRss reports — Connecticut Attorney General William Tong argues Kalshi's sports contracts function like sports betting and must follow state gambling laws, while Kalshi says its markets are federally regulated derivatives under the CFTC. A federal judge denied Kalshi's request to block Connecticut enforcement earlier this month and the company appealed to the Second Circuit, while the CFTC has separately sued Connecticut, Arizona and Illinois over federal authority. (BitRss)
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