CFTC seeks injunction in Kalshi Rhode Island dispute

CFTC, DOJ Intervene in Kalshi Lawsuit Against Rhode Island Prior to Motion for Injunctive Relief

The United States Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ) have asked the US District Court for the District of Rhode Island to let them intervene in Kalshi v. Furcolo, et al. That action preceded Kalshi making its anticipated request for the court to enjoin the defendants, including Rhode Island Attorney General Peter Noronha, from enforcing state gaming laws against Kalshi. The intervention of CFTC and DO…

CFTC seeks injunction in Kalshi Rhode Island dispute

The United States and the Commodity Futures Trading Commission (CFTC) have asked a federal judge to block Rhode Island from enforcing state law against federally regulated event contracts, deepening a growing legal battle over the regulation of prediction markets. In a motion for a preliminary injunction filed Friday (May 29) in the U.S. District Court for the District of Rhode Island and reviewed by ReadWrite, the federal agencies argued that t…