Odaily Planet Daily reports: The U.S. Commodity Futures Trading Commission (CFTC) has filed an amicus brief with the U.S. Court of Appeals for the Sixth Circuit, supporting the prediction market platform Kalshi and countering a lawsuit previously filed by Ohio.
Ohio authorities argue that Kalshi’s prediction market business constitutes unlicensed sports betting; the CFTC, however, contends that these markets fall under federal jurisdiction and that state governments have no authority to interfere.
CFTC Chair Michael Selig stated that the Ohio district court's previous understanding of the CFTC's jurisdiction was "too narrow" and hopes the appellate court will correct it.
Over the past several months, the CFTC has filed lawsuits against states including Wisconsin, Illinois, Arizona, Connecticut, and New York to assert its regulatory authority over prediction markets. As platforms like Kalshi and Polymarket gain popularity, the dispute over regulatory boundaries between federal and state authorities continues to expand.