Kalshi’s turn: Prediction markets platform sues Minnesota over law going into effect in August
The Block
Prediction market platform Kalshi is suing Minnesota, arguing that a new state law banning its services violates federal regulatory jurisdiction.Summary
Kalshi has filed a lawsuit against Minnesota officials following a new state law that prohibits prediction market activities starting August 1. The company argues that the state's move violates the Supremacy Clause, asserting that the Commodity Futures Trading Commission (CFTC) holds exclusive federal jurisdiction over such platforms. This legal challenge follows similar federal interventions, as the CFTC has also sued the state to protect its regulatory authority over event contract exchanges.
(Source：The Block)