1 of 1
Story summary
- The U.S. Commodity Futures Trading Commission (CFTC) ordered Kalshi to keep trading after it reported a market emergency.
- New York Attorney General Letitia James sued Kalshi, seeking a restraining order and $36 billion in damages, labeling it an unlicensed gambling business.
- CFTC Chairman Michael Selig said New York lacks authority over financial markets while criticizing the lawsuit.
- President Donald Trump supported the CFTC’s view that prediction markets are financial, not gambling.
