CFTC invokes emergency authority to keep Kalshi operating amid New York lawsuit

The U.S. Commodity Futures Trading Commission (CFTC) invoked its emergency authority to order Kalshi to keep operating, after the company notified the agency of a market emergency triggered by New York’s lawsuit against it.

New York Attorney General Letitia James sued Kalshi in state court July 31, calling it an unlicensed gambling operation. Her office sought a temporary restraining order to block Kalshi from offering event contracts nationwide, along with more than $36 billion in damages.