CFTC sues Utah over restrictions on prediction market contracts
The CFTC said it has sued Utah to prevent the state from restricting event contracts on CFTC-registered exchanges. The case follows Utah’s lawsuit accusing Kalshi of violating the state’s gambling ban; CFTC chairman Michael Selig said the agency was defending its jurisdiction over commodity derivatives.
The lawsuit could affect whether prediction market operators can offer event contracts under federal or state oversight.
Cite as: SectorWire, “CFTC sues Utah over restrictions on prediction market contracts”, https://sectorwire.news/item/cftc-sues-utah-over-restrictions-on-prediction-market-contracts/