Loading...
On October 26, the U.S. Federal Reserve (CFTC) and the Department of Justice filed a lawsuit against the state of Utah and Attorney General Derek Brown, seeking an injunction to prevent the state from using gambling laws to crack down on federally regulated prediction markets. The lawsuit alleges that Utah's enforcement threatens the CFTC's regulation of exchanges. Utah previously sued Kalshi and two Susquehanna entities on October 20, accusing Kalshi of receiving between $30.6 million and $61.2 million in fees. Utah is the 10th state to be sued by the CFTC in this case. (Source: DeFi Rate)