The CFTC is escalating its legal fight with states, suing Utah after the state filed a lawsuit against prediction market platform Kalshi.
This is the summary The Block publishes in its feed. The full article lives on their site.
The US state filed a lawsuit against Kalshi last week, seeking to recover up to $60 million in profits related to event contracts on prediction markets.
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The contracts have no expiration date and allow traders to bet on crypto prices rising or falling.
The federal complaint targets Utah's case against Kalshi and Susquehanna, seeking to bar investigations as well as enforcement against federally regulated markets.
