Chairman Michael Selig says the agency will continue to defend its jurisdiction.
The hit
The CFTC sued Arkansas on Thursday, asking a federal judge to halt Attorney General Tim Griffin’s lawsuit against Kalshi, according to SBC Americas. The regulator also wants the state barred from pursuing any other federally regulated exchange. The CFTC announced the action on Friday.
Why it matters
This turns a state-versus-operator dispute into a federal-versus-state one. If the judge agrees, Griffin’s case against Kalshi would be halted & a court ruling could shape whether other states can bring similar suits.
The record
| CFTC court filing | Filed Thursday against Arkansas (SBC Americas) |
|---|---|
| Target of Arkansas lawsuit | Kalshi (Attorney General Tim Griffin) |
| CFTC action announced | Friday (SBC Americas) |
| CFTC chairman statement | Michael Selig says agency will continue to defend its jurisdiction |
What happens next
Watch the federal court docket for a ruling on the CFTC’s request to halt the state’s case against Kalshi.
Sources: CFTC sues Arkansas to stop Kalshi case as prediction markets fight spreads across South
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