#CFTCOrdersKalshiToKeepOperating 🔴 CFTC invokes emergency power to override NY ban on Kalshi prediction market
The CFTC ordered Kalshi to continue operating in New York on Tuesday, overriding Attorney General Letitia James's lawsuit to block its sports contracts. CFTC Chairman Mike Selig said "Congress did not intend for derivatives exchanges to be regulated under a patchwork of state gaming laws," arguing New York "has no business" regulating interstate financial markets.
New York contends the contracts are unregulated gambling that evaded state licensing and taxes.$ONE $BMT $VANRY
The CFTC ordered Kalshi to continue operating in New York on Tuesday, overriding Attorney General Letitia James's lawsuit to block its sports contracts. CFTC Chairman Mike Selig said "Congress did not intend for derivatives exchanges to be regulated under a patchwork of state gaming laws," arguing New York "has no business" regulating interstate financial markets.
New York contends the contracts are unregulated gambling that evaded state licensing and taxes.$ONE $BMT $VANRY