Story thread · 3 reports / 3 sources
US Tries to Override New York Gambling Laws, Orders Kalshi to Keep Operating
slashdot.org · 15h · first report
How the coverage leans
Across 3 sources · syndicated copies counted once
The CFTC has ordered Kalshi to keep operating in New York, claiming the state's lawsuit against the prediction market created a "market emergency." They said it acted "to ensure market stability" and "ordered the exchange to continue to operate in accordance with the Commodity Exchange Act's Core Principles." Ars Technica reports: The market emergency alleged by the CFTC is that New York Attorney General Letitia James sued Kalshi on July 31. James' lawsuit seeks a court order to permanently enjoin Kalshi "from operating an unlawful gambling business" in the state. The lawsuit also demands that Kalshi "make full restitution to customers who have engaged in betting" and pay financial penalties. "New York intends to make event contract derivatives waste away under its iron curtain of state gaming laws before the courts get the chance to issue final rulings," CFTC Chairman Michael Selig said yesterday. "Congress did not intend for derivatives exchanges to be regulated under a patchwork of
The coverage
- CFTC orders Kalshi to keep operating in response to New York lawsuit
finextra.com · 1h
- For Kalshi, an 'emergency' is a state AG suing it
americanbanker.com · 2h
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