t>

Kalshi has temporarily won a court case in Arizona


Arizona Attorney General Kris Mayes’ lawsuit against the Kalshi prediction market appears to have hit a snag.

Commodity Futures Trading Commission he announced on Friday that it has won a temporary injunction preventing the government from continuing its case against Kalshi (whose leader Tarek Mansour is pictured above).

“Arizona’s decision to use state law enforcement against companies that comply with federal law sets a dangerous precedent, and today’s court order sends a clear message that intimidation is not an acceptable method of circumventing federal law,” said CFTC Chairman Michael S. Selig in a statement.

Although the CFTC usually consists of five commissioners, Selig is the only one of the group, following his confirmation in December and the departure of previous chairman Caroline Pham (who left to join crypto firm MoonPay).

Arizona is filed a case against Kalshi accusing the company of doing illegal business in the state without a permit. The announcement of the ban comes just days after a federal judge allowed the Arizona case to go forward, according to Bloomberg.

The CFTC has also filed lawsuits seeking to stop similar lawsuits from moving forward in Connecticut and Illinois.



Source link

Leave a Reply

Your email address will not be published.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