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CFTC Challenges Ohio Lawsuit Against Kalshi in Escalating Prediction Market Fight

GateNews
Enforcement ActionsRegulation & PolicyPrediction Market
The CFTC filed an amicus brief with the U.S. Court of Appeals for the Sixth Circuit, challenging Ohio's complaint against prediction market platform Kalshi and asserting federal jurisdiction over event contracts, according to CFTC Chair Michael Selig. The agency argues that prediction markets trade across state lines and therefore require federal oversight rather than state gambling regulations. CFTC Chair Selig stated, "The federal district court in Ohio took an improperly narrow view of the Commission's jurisdiction, and we are asking the Court of Appeals to correct that error." The dispute stems from a 2025 complaint by Ohio officials alleging Kalshi operated as unlicensed sports betting; a district court judge rejected Kalshi's request for a preliminary injunction in March. The CFTC has also sued Wisconsin, Illinois, Arizona, Connecticut, and New York in similar disputes, while 38 state attorneys general backed Massachusetts' separate lawsuit against Kalshi, arguing prediction markets cannot ignore state gambling laws.
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