CFTC sues New Mexico over state action against Kalshi
The US Commodity Futures Trading Commission has sued New Mexico officials, seeking to block the state from applying gambling laws to event contracts registered under CFTC supervision, according to the report. New Mexico had sued Kalshi on 4 June, alleging that it offered unlicensed sports betting and allowed users aged 18 to 20 to participate. The CFTC argues that the contracts are federally regulated swaps and that Kalshi operates as a designated contract market.
The lawsuits leave unresolved whether federal or state authorities regulate Kalshi’s event contracts in New Mexico.