Kalshi gets CFTC support in Ohio sports market appeal
The post Kalshi gets CFTC support in Ohio sports market appeal appeared on BitcoinEthereumNews.com. The Commodity Futures Trading Commission has backed Kalshi in its appeal against Ohio regulators, asking the U.S. Court of Appeals for the Sixth Circuit to affirm federal oversight of prediction markets. Summary CFTC says Ohio went too far by treating Kalshi’s federally regulated event contracts as sports gambling. The Ohio appeal adds to wider state battles over Kalshi, Polymarket, Crypto.com, Coinbase, and Robinhood. Trump-appointed CFTC Chair Michael Selig says the agency will defend its authority over prediction markets. The agency filed an amicus brief in KalshiEx LLC v. Matthew T. Schuler, et al., on May 12. The case centers on whether Ohio can treat Kalshi’s sports event contracts as unlicensed sports gambling. State authorities had told the company to stop offering those markets in Ohio. Kalshi sued, but a federal district court denied its request for protection in March. The c