CFTC escalates prediction-market fight as states bring criminal charges
- Severity
- High
- Sources
- 1
What happened
CFTC Chair Michael Selig called state criminal charges against prediction-market executives "really egregious" in a 13 November CNBC interview. The CFTC sued Louisiana on 13 November, its 12th state suit, after a state judge ordered more than 30 derivatives-linked firms to cease operations; the agency says that order came without notice or a hearing. The Third Circuit sided with Kalshi, the Ninth Circuit ruled the other way, and New Jersey has petitioned the Supreme Court, with Kalshi's response due 7 December. As of 14 November, DefiLlama tracked $6.24bn of seven-day volume across 138 protocols, of which Kalshi was $4.54bn and Polymarket $1.33bn.
For experienced traders · Written by AI from 1 source · Wrong?
What to do
- Monitor whether the Supreme Court agrees to hear the New Jersey case on Dodd-Frank preemption.
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