CFTC supports Kalshi, refutes Ohio lawsuit

The Commodity Futures Trading Commission (CFTC) has submitted an amicus curiae opinion to the Sixth Circuit Court of Appeals, supporting the predictive market platform Kalshi and refuting Ohio's accusation that its business is unlicensed sports betting. CFTC Chairman Michael Selig stated that the Ohio District Court's understanding of CFTC jurisdiction is "too narrow" and hopes that the appellate court will correct it. The CFTC has recently sued multiple states to maintain its regulatory authority over the prediction market.