CFTC escalates prediction-market fight as states bring criminal charges
REGULATIONCommodity Futures Trading Commissioncoinbrief/daily · 1 source
- Severity
- High
- Sources
- 1
What happened
US regulators and individual states are in a legal dispute over whether prediction markets, where people bet on events such as sports results, should be treated as financial products or as gambling. Utah has filed criminal charges against Kalshi and its two cofounders, though no one has been convicted. The US financial regulator is now suing states in response, and the question may end up at the Supreme Court.
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What to do
- Monitor whether the Supreme Court agrees to hear the New Jersey case on Dodd-Frank preemption.
Written by AI from the sources, checked against them
Full story timeline · 1 update
Who reported · 1 outlet
Cryptopolitan
Who and what is in it
Companies
Government agencies