Dodd’s brief then took issue with the CFTC’s argument that it has “exclusive jurisdiction” over these products. “Nor is the CEA’s grant of ‘exclusive jurisdiction’ to the CFTC an express preemption provision immunizing every contract listed on a DCM from otherwise applicable state and tribal… Read More
Popular betting on what an individual might say or do, known as “mention markets,” pose some special dangers in the eyes of the U.S. regulator overseeing prediction market firms such as Kalshi and Polymarket. An advisory issued by the Commodity Futures Trading Commission (CFTC) on… Read More
New Jersey petitioned for a writ of certiorari in Kalshi’s case against it last week, finally throwing the ball to the high court.
This latest U.S. appeals court ruling sets up a rift between federal courts on event contracts, suggesting the U.S. Supreme Court may need to settle the matter.
The courtroom combat across state and federal courts is so far producing roughly split outcomes, suggesting a big job may be coming for the Supreme Court.
Washington state is cut off for Kalshi customers while the company combats the development in court and its federal regulator keeps pursuing new rules.
