CFTC defends Kalshi operations amid New York court dispute
The CFTC invoked emergency authority earlier this month to direct Kalshi to continue operating while New York’s lawsuit against its event contracts proceeds, according to the report. Attorney Joe Webster criticised the agency’s position, arguing that the CFTC cannot override court orders; the New York attorney general is seeking a restraining order and more than $36 billion in damages.
The dispute leaves prediction-market operators facing competing federal and state legal positions in New York.