Susquehanna stories

Oct 27, 2026

CFTC sues Utah to block state enforcement against prediction markets

The Commodity Futures Trading Commission filed a lawsuit against Utah and its Attorney General to prevent state gambling law enforcement against federally regulated prediction markets including Kalshi.

Oct 27, 20266 sources

Top claims

▪Kalshi spokesperson Jacki McGavick stated that as a national derivatives exchange registered with the CFTC, Kalshi answers exclusively to federal law
▪Utah is the tenth state against which the Commodity Futures Trading Commission (CFTC) has initiated legal proceedings, following actions involving Arizona, Connecticut, Illinois, New York, Wisconsin, Minnesota, Rhode Island, New Mexico, and Kentucky
▪On September 8, 2026, the U.S. Tenth Circuit Court of Appeals denied Kalshi's request to pause Utah's enforcement while appealing an August 4, 2026 ruling by U.S. District Judge Robert Shelby

Topics

U.S. Supreme Court Fifth Circuit Court of Appeals Judiciary Crypto regulatory agencies Gary Gensler Commodity Exchange Act Election betting prediction markets Crypto regulation Dodd-Frank Act State politics Federal agencies Federalism Crypto prediction markets Commodity Futures Trading Commission 5th Circuit Court of Appeals

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