CFTC takes Utah to federal court over state lawsuit against Kalshi

The Commodity Futures Trading Commission (CFTC) filed a lawsuit against Utah on Tuesday over the state’s attempt to restrict prediction market platform Kalshi . The case is the federal regulator’s 10th against a state that has sought to rein in prediction markets, and its first against a state led by a Republican governor. The CFTC filed the complaint in the US District Court for the District of Utah, Central Division, and named the state and Attorney General Derek Brown as defendants.