\n\n

US tries to override New York gambling laws, orders Kalshi to keep operating

The Trump administration is trying to stop New York from enforcing its gambling laws against Kalshi, and yesterday said it ordered the prediction market to continue operating in the state.

The Commodity Futures Trading Commission (CFTC) announced that it exercised its emergency authority in response to a “market emergency.” The CFTC said it acted “to ensure market stability” and “ordered the exchange to continue to operate in accordance with the Commodity Exchange Act’s Core Principles.” The Trump administration took the action after a request from Kalshi.

The market emergency alleged by the CFTC is that New York Attorney General Letitia James sued Kalshi on July 31. James’ lawsuit seeks a court order to permanently enjoin Kalshi “from operating an unlawful gambling business” in the state. The lawsuit also demands that Kalshi “make full restitution to customers who have engaged in betting” and pay financial penalties.

Read full article

Comments

Related Posts

As AI safety concerns mount, three pioneers make the case for staying open

At Ai4, three of the world’s most respected AI experts — Geoffrey Hinton, Fei-Fei Li, and Andrew Ng — debated regulation, open source access, and how America can compete as…

AI coding startup Cognition reportedly already in talks to raise at $40B valuation

Cognition may be looking to raise another mega round just a few months after raising $1 billion at a $26 billion valuation.

Leave a Reply

Your email address will not be published. Required fields are marked *

You Missed

How does the Mecca defence pact change the US-Iran war?

How does the Mecca defence pact change the US-Iran war?

West Bank: The reproductive violence of colonialism

West Bank: The reproductive violence of colonialism

Here’s why Netanyahu could lose Israel’s elections

Here’s why Netanyahu could lose Israel’s elections

Recapping Europe’s total solar eclipse, first in nearly 3 decades

Recapping Europe’s total solar eclipse, first in nearly 3 decades

Lindsay Clancy murder trial continues with health counselor testimony | full video

Lindsay Clancy murder trial continues with health counselor testimony | full video

Europe sees first total solar eclipse in 27 years | Special Report

Europe sees first total solar eclipse in 27 years | Special Report