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Kalshi vs New York State | Bitcoin and Crypto News
Description
New York’s attempt to shut down prediction market Kalshi has ignited a high-stakes legal battle pitting state gambling regulators against the federal CFTC, which argues these markets are financial instruments—not illegal wagers—and should be federally regulated. With the CFTC using emergency powers to keep Kalshi operating, the showdown highlights a deeper conflict: states see these platforms as tax-generating gambling ventures, while federal authorities insist they’re cross-border derivatives that fall under national oversight. The outcome could reshape how prediction markets are governed nationwide.
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