CFTC chair criticises New York attorney general over prediction markets
CFTC chair Michael Selig criticised New York Attorney General Letitia James over the dispute about prediction markets, in remarks at a White House meeting on 20 August. James has alleged that Kalshi breached New York sports-betting age rules by allowing people aged 18 to 20 to trade sports-related contracts; Selig said the CFTC had used emergency powers to block a state temporary restraining order.
The dispute concerns whether federal or state authorities control prediction-market contracts linked to sports.