Regulation· ★★★★· neutral·

CFTC and DOJ sue Utah to block state crackdown on Kalshi

  • —CFTC seeks preliminary and permanent injunctions against Utah officials
  • —Utah filed its own suit against Kalshi and two Susquehanna firms on Oct. 20
  • —The state estimates Kalshi collected $30.6M–$61.2M in fees from Utah users
  • —Utah is the 10th state the CFTC has sued over prediction markets
Why it matters: The outcome will decide whether states can ban event contracts on federally regulated exchanges, with the dispute potentially heading to the Supreme Court.
Source: DeFi Rate
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