CFTC files lawsuit against Utah over prediction market oversight

CIE News ·

Based on reporting by The Block; not yet independently confirmed.

The Commodity Futures Trading Commission has filed a lawsuit against Utah following the state's previous legal action against prediction market platform Kalshi, The Block reported.

The Commodity Futures Trading Commission has filed a lawsuit against the state of Utah, according to a report by The Block. The legal action follows an earlier lawsuit initiated by the state of Utah against prediction market platform Kalshi. The complaint comes amid an intensifying dispute between federal regulators and individual states concerning jurisdiction over the regulation of prediction markets.

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