U.S. court denies CFTC bid to halt New York case against Kalshi

A U.S. court denied a request by the Commodity Futures Trading Commission to halt New York State’s case against prediction market platform Kalshi, The Block reported. New York State prosecutors had earlier sued Kalshi, alleging it operated an unlicensed illegal gambling venue. The CFTC pushed back, arguing federal agencies hold exclusive regulatory authority over event contracts. With the latest court decision, the state’s lawsuit against Kalshi is expected to proceed for now.