CoinDesk·4 min read·medium
CFTC orders Kalshi to continue offering prediction markets in New York after state lawsuit
N
Nikhilesh De
✦AI Summary
The CFTC has invoked emergency authority to allow prediction market platform Kalshi to continue operating in New York despite a state-level lawsuit. The conflict highlights a jurisdictional battle between federal regulators, who view these platforms as financial exchanges, and state officials, who classify them as illegal gambling.
The CFTC used its "emergency authority" to require Kalshi to continue operating after Kalshi asked for help following New York State Attorney General Letitia James' lawsuit against the company at the end of July, the federal regulator said in a Tuesday press release .
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