New York Attorney General Letitia James sued prediction market platform Kalshi on July 31, alleging the company has been operating an unlicensed gambling business in violation of state law. The lawsuit is the latest legal challenge facing Kalshi, which is already battling several other states as courts determine what regulations, if any, the company must follow.
prediction markets
Posted inRegulatory Enforcement
Kalshi, CFTC clash with states over prediction market jurisdiction
The fight over who regulates prediction markets continues as the CFTC filed a lawsuit against another state for its attempt to cement its jurisdiction on these companies. One of these companies, Kalshi, fought back as well, suing the state of Illinois, adding to the growing list of legal battles over this still-emerging sector.
Posted inFinance
CFTC sues states to assert exclusive jurisdiction over prediction markets
The Commodity Futures Trading Commission filed lawsuits against Arizona, Connecticut, and Illinois last week over the jurisdiction of prediction markets, which have gained popularity in the past year.
