CoinDesk·6 min read·hard
U.S. CFTC moves to stop Kalshi from canceling trades as ordered by Michigan court
J
Jesse Hamilton
✦AI Summary
The U.S. CFTC is intervening to prevent a Michigan court from forcing the prediction market Kalshi to cancel previously executed trades. The agency argues that state-level interference undermines federal regulatory authority over commodity markets.
The CFTC move amplifies its legal fight with state governments and courts over what its chairman argues is its unbreakable and exclusive regulatory authority over trading at Kalshi, which it regulates as a designated contract market (DCM).
businesspoliticscrypto
✦
Get the full story
Sign up for Headlinne to unlock AI insights, political bias analysis, and your personalized news feed.
Create free accountAlready have an account? Sign in