CFTC invokes emergency powers to keep Kalshi operating in New York fight
60-second summary
The Commodity Futures Trading Commission invokes emergency powers to allow Kalshi to operate in New York, escalating a jurisdictional fight over event contracts. The order temporarily suspends a state court's ruling that deemed Kalshi's contracts as illegal gambling.
The order escalates a jurisdictional fight over whether states may treat federally regulated event contracts as illegal gambling.