CFTC Pulls New Mexico Into Prediction Markets Battle

CFTC Pulls New Mexico Into Prediction Markets Battle

The CFTC has sued New Mexico after state authorities took legal action against Kalshi, marking the eighth state the federal regulator has sued in its battle to assert authority over prediction markets.

Gensler Challenges CFTC's Grip on Prediction Markets

Former CFTC and SEC Chair Gary Gensler has filed an amicus brief in the Sixth Circuit arguing that sports event contracts do not qualify as swaps under federal commodities law. The filing came the same week the CFTC sued New Mexico, making it the eighth state the agency has taken to federal court over prediction-market jurisdiction. The CFTC's Expanding Legal Campaign The CFTC filed suit against New Mexico Governor Michelle Lujan Grisham, state …

CFTC Sues New Mexico, Nevada Wants Kalshi in Contempt, Fined

The Commodity Futures Trading Commission (CFTC) are suing New Mexico after the state issued a lawsuit against Kalshi. New Mexico is added to the list of states being sued by the CFTC after attempting to regulate prediction markets, as the commission seeks to reaffirm their exclusive regulatory jurisdiction. In other news, the Nevada Gaming Control Board seeks to hold Kalshi in contempt of court after failing to geofence their offerings in Nevada…

CFTC Sues New Mexico as US Prediction Market Legal Battle Continues

The Commodity Futures Trading Commission (CFTC) is stepping up its legal assault on US states that try to take regulation of prediction markets into their own hands, with New Mexico the latest to be served with legal papers.New Mexico officials have launched two recent lawsuits against the operator Kalshi, claiming it is offering illegal sports betting services in the state and allowing people under 21 to gamble on its platform.In mid-May, the M…

CFTC Sues New Mexico to Block State Gambling Laws Seeking to Prohibit Sports Event Contracts

The Commodity Futures Trading Commission filed a lawsuit in federal court against the state of New Mexico The lawsuit seeks to block New Mexico’s lawsuit against Kalshi New Mexico Attorney General Raúl Torrez filed a lawsuit against Kalshi in early June The Commodity Futures Trading Commission filed a lawsuit in federal court against the state of New Mexico after Attorney General Raúl Torrez announced on June 4 a New Mexico Department of Justice…

CFTC challenges New Mexico Kalshi enforcement lawsuit

A new legal fight over prediction markets is unfolding in New Mexico after the United States and the Commodity Futures Trading Commission (CFTC) sued the state, arguing that efforts to stop Kalshi’s sports-related contracts conflict with federal law. The complaint, filed Friday (June 12) in federal court, centers on a lawsuit brought by New Mexico Attorney General Raul Torrez on June 4. In that case, the state accused Kalshi of operating unlicen…