CFTC says exchanges cannot cut off prediction-market users by state
In short
The Commodity Futures Trading Commission said regulated exchanges cannot stop customers state by state. That comes even though firms like Kalshi are under court orders to do exactly that.
What the reporting says
The Commodity Futures Trading Commission said regulated exchanges cannot cut off customers state by state, even as firms such as Kalshi are under court orders to do so. The agency’s demand clashes with those court orders, creating a direct conflict between the regulator’s position and court-directed restrictions.
Why it matters
The Commodity Futures Trading Commission took a position on state-by-state customer access at regulated exchanges, while companies such as Kalshi remain subject to court orders requiring restrictions. That leaves prediction-market operators facing conflicting directives from a federal regulator and the courts. The development matters for how these exchanges handle customers and comply with legal and regulatory demands.