CFTC Asks Federal Judge to Halt Utah’s Kalshi Gambling Case

The federal government asked a judge in Utah to halt the state’s pending case against Kalshi, making Utah the tenth state the derivatives regulator has taken legal action against. The Commodity Futures Trading Commission wants a federal judge to bar Utah from treating CFTC-regulated prediction markets as illegal gambling, starting with the state’s week-old case against Kalshi . The agency announced the suit Tuesday, making Utah the tenth state it has taken legal action against.