CFTC Tells Prediction Markets to Drop State Geoblocks Within 30 Days

The Commodity Futures Trading Commission says federally regulated prediction markets generally cannot block traders based on which U.S. state they are in, and has given exchanges 30 days to lift such restrictions or explain why they can’t. The guidance came a day after a federal judge ordered Kalshi to block sports contracts on the lands of California tribes that sued it. The CFTC on Thursday, Nov. 5, issued an interpretation of its impartial access rule, which requires designated contract markets (DCMs) to give eligible traders “competitive, open, fair, and impartial access.” The agency gave exchanges 30 days to end state-level…