Utah judge sets 20 November hearing on CFTC prediction-markets case
Regulation1 min read
US District Judge Robert J. Shelby set a 20 November hearing on the CFTC’s request to block Utah’s enforcement actions against prediction-market operators, the filing schedule reportedly shows. Utah must file its motion to dismiss by 10 November and respond to the emergency-relief request by 11 November, with remaining briefs due from 16 to 19 November.
A federal judge has set a 20 November hearing on the regulator’s bid to halt state enforcement against prediction markets. At a 6 November status conference, Shelby also accelerated briefing on the CFTC’s motion for a temporary restraining order and preliminary injunction.
Utah must file a motion to dismiss by 10 November and respond to the CFTC’s emergency-relief request by 11 November. The remaining briefs are due between 16 and 19 November.
The federal case follows Utah’s criminal charges in October against Kalshi and its co-founders, Tarek Mansour and Luana Lopes Lara. Shelby previously ruled for Utah in a separate case brought by Kalshi over the state’s authority to regulate sports event contracts.
Susquehanna is resisting a preliminary injunction sought by Utah in its October lawsuit against Kalshi and its market makers, according to a filing flagged by gaming attorney Daniel Wallach. The company rejects the state’s description of market makers as gambling operators, arguing that they supply liquidity by placing orders and trading at current prices, not by setting odds or taking wagers. Susquehanna says it operates independently of Kalshi, while referring to Kalshi’s arguments in its opposition and sharing its legal counsel.