Federal Court Intervenes in Arizona's Pursuit of Kalshi, Upholding CFTC Authority
On Friday, a federal judge issued a temporary restraining order preventing Arizona from continuing its criminal case against Kalshi , siding with the Commodity Futures Trading Commission. Federal Court Halts Arizona's Case Against Kalshi The ruling followed a hearing before U.S. District Judge Michael Liburdi , with the CFTC confirming the decision in a press release. The order blocks Arizona from prosecuting entities regulated as designated contract markets under federal law. CFTC Argues Federal Authority Over Prediction Markets The CFTC has maintained that prediction markets — including event-based contracts tied to elections — fall under its exclusive oversight as part of the national derivatives framework. "Arizona's decision to weaponize state criminal law against companies that comply with federal law sets a dangerous precedent," CFTC Chairman Michael S. Selig said. "The court's order today sends a clear ... Full story available on Benzinga.com