The U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against New York State to stop the operation of a prediction market platform, but a U.S. court rejected the request, The Block reported. Previously, the New York Attorney General filed a lawsuit to suspend the operations of prediction market platform Kalshi, alleging it operated an unlicensed illegal gambling establishment. In response, the CFTC strongly objected, stating that the exclusive regulatory authority over event contracts lies with federal agencies. However, with this court decision, the state government's lawsuit against Kalshi is expected to continue for the time being.
