CFTC uses emergency powers to overturn prediction market ban
Temporary US-wide ban would make financial instruments “waste away”, chairman says
The US Commodity Futures Trading Commission (CFTC) has exercised its emergency powers to overrule the decision of New York’s attorney general to shut down ‘prediction market’ Kalshi in the US.
The CFTC’s response to attorney general Letitia James was published on August 11. It follows James and state governor Kathy Hochul suing KalshiEX, one of the two prominent operators of prediction markets in the US, for running illegal gambling operations. The lawsuit was filed on July 31.
The CFTC argued
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