CFTC Directs Kalshi to Keep Michigan Trades Active Amid Legal Fight
Share:
The CFTC has directed Kalshi to continue honoring trades by Michigan residents, asserting designated contract markets must treat customers uniformly under federal law and rejecting state orders to unwind completed trades. The move intensifies a jurisdictional fight over whether prediction markets fall under state gambling laws or federal oversight, increasing regulatory certainty for crypto prediction platforms and potentially aiding adoption across DeFi, DEX and CEX derivatives while legal risk from state challenges remains.
Predictions Markets
See what traders are focused on
The Commodity Futures Trading Commission has intensified its dispute with Michigan by directing Kalshi to continue honoring trades involving state residents. The federal regulator argued that market participants deserve certainty and consistent treatment regardless of where they live.
Consequently, the decision deepens an ongoing conflict over whether federally regulated prediction markets fall under state gambling laws or exclusive federal oversight. The latest action also signals that the jurisdictional battle could reshape how prediction market platforms operate across the United States.
Federal Regulator Defends Market Authority
CFTC Chairman Michael Selig said federal law requires designated contract markets to treat customers equally across all states. Therefore, he maintained that Michigan cannot compel Kalshi to unwind completed trades.
Additionally, Selig …
Read The Full Article CFTC Directs Kalshi to Keep Michigan Trades Active Amid Legal Fight On Coin Edition.
Predictions Markets
See what traders are focused on
Share:
Predictions Markets
See what traders are focused on
Share:
Read More
US and UK Advance Joint Digital Asset Strategy to Boost Stablecoin Innovation
