US government sues Arkansas to block state case against Kalshi prediction market
REGULATIONCommodity Futures Trading Commissioncoinbrief/daily · 1 source
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What happened
The Department of Justice and the CFTC filed suit on Nov. 12 in the US District Court for the Eastern District of Arkansas, asking a judge to block Arkansas's Deceptive Trade Practices Act case against Kalshi. The federal complaint argues Kalshi's sports event contracts are swaps under the Commodity Exchange Act, placing them under exclusive CFTC jurisdiction. It notes that courts in Arizona, Illinois and Minnesota have already issued preliminary injunctions favouring the federal side.
For IT people · Written by AI from 1 source · Wrong?
What to do
- Watch for the federal court's response to the request to block Arkansas's case against Kalshi.
- Monitor whether the CFTC and SEC finalise their proposed rule defining event contracts as swaps.
Written by AI from the sources, checked against them
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Who reported · 1 outlet
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Who and what is in it
Companies