"Arizona's decision to weaponize state criminal law against companies that comply with federal law sets a dangerous precedent, and the court's order today sends a clear message that intimidation is not an acceptable tactic to circumvent federal law."
"The CFTC also filed suits seeking to stop similar cases from moving forward in Connecticut and Illinois."
The Commodity Futures Trading Commission has secured a temporary restraining order against Arizona's criminal case against prediction market Kalshi. Arizona's charges allege that Kalshi operated an illegal gambling business without a license. CFTC Chairman Michael S. Selig criticized Arizona's actions as a dangerous precedent, emphasizing that intimidation tactics to bypass federal law are unacceptable. The CFTC is also pursuing similar actions in Connecticut and Illinois to halt comparable cases. Currently, Selig is the only commissioner on the CFTC following recent personnel changes.
Read at TechCrunch
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