CFTC Intervenes in Kalshi's Trading Amid New York Lawsuit
The CFTC has invoked emergency powers to allow Kalshi to continue trading despite a $36 billion lawsuit from New York, which claims that prediction contracts are illegal gambling. This unprecedented move highlights the ongoing conflict between federal and state regulations in the cryptocurrency space.
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CFTC vs. New York: the prediction market emergency that could redraw federal-state crypto boundaries
On August 11, the CFTC invoked emergency powers for only the seventh time in its history to keep Kalshi running after New York filed a $36 billion lawsuit calling prediction contracts illegal gambling. The clash between federal derivatives law and…
CFTC Cites Bitcoin Position in Emergency Order Shielding Kalshi
The Commodity Futures Trading Commission (CFTC) ordered Kalshi to keep running its exchange after finding that New York’s attempt to stop the platform presented a market emergency. The commission cited a hypothetical bitcoin position to argue that forced liquidation could spread losses well beyond prediction markets. Its premise, that the contracts are swaps, was rejected […]
A $36 billion lawsuit just turned Kalshi’s $40 billion valuation race into a federal market emergency
The federal order preserves trading, but the regulator’s explosive description of New York’s TRO request is not a final ruling. The post A $36 billion lawsuit just turned Kalshi’s $40 billion valuation race into a federal market emergency appeared first on CryptoSlate .
CFTC Invokes Emergency Powers to Keep Kalshi Trading Despite New York Suit
Kalshi triggered the order, notifying the agency of a market emergency after New York moved to bar its contracts nationwide.