U.S. CFTC moves to stop Kalshi from canceling trades as ordered by Michigan court
60-second summary
The U.S. CFTC is actively intervening to stop Kalshi from canceling trades as ordered by a Michigan court, arguing it's inappropriate for the state to "bully" the firm into reversing trades. The regulator is taking a strong stance, citing its oversight of Kalshi's trading activities and the potential market disruption that could result from such a move.
The federal derivatives regulator, which oversees trading at Kalshi, argued it was inappropriate for Michigan to "bully" the firm into reversing trades.