CFTC backs Kalshi in Ohio fight over prediction markets jurisdictional battle
The Block
The CFTC has intervened in an Ohio legal battle to assert federal authority over prediction markets against state-level gambling regulations.Summary
The Commodity Futures Trading Commission (CFTC) has filed an amicus brief in the U.S. Court of Appeals for the Sixth Circuit to support Kalshi in its legal conflict with Ohio. The CFTC argues that Ohio officials are overstepping federal jurisdiction by attempting to regulate prediction markets as unlicensed sports betting. This intervention follows a district court ruling that previously allowed state gambling laws to take precedence. CFTC Chair Michael Selig contends that federal oversight is essential because these markets operate across state lines, and the agency is actively challenging similar regulatory crackdowns in other states.
(Source：The Block)