[Market Update] U.S. DOJ and CFTC sue Arkansas, seek to halt enforcement against Kalshi
The U.S. Department of Justice and CFTC sued Arkansas on November 12, seeking to halt enforcement against Kalshi. They argue that the Commodity Exchange Act gives the CFTC exclusive jurisdiction and preempts state law. On November 4, the state sued Kalshi for illegal gambling, seeking penalties of up to $10,000 per violation. It is the 11th state to do so, and no ruling has been issued yet. Is this bullish or bearish for prediction markets?
(Source: Unchained)
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