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New York vs Kalshi Prediction Markets | Bitcoin and Crypto News
Description
A New York judge just sided with the state in a high-stakes legal battle over prediction markets, denying the CFTC’s motion to block New York’s lawsuit against Kalshi. The state argues Kalshi’s event betting platforms are illegal gambling, while the federal agency claims they’re financial derivatives under its exclusive jurisdiction. With the ruling, New York can continue its case — but the CFTC still has one more shot before Judge Victor Marrero by August 7th. This showdown could reshape how prediction markets are regulated, pitting state gambling laws against federal commodity oversight.
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