Fifth Circuit Court of Appeals 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

People involved

Michael Selig

Subtopics

5th Circuit Court of Appeals1 Commodity Exchange Act1 Commodity Futures Trading Commission1 Crypto prediction markets1 Crypto regulation1 Crypto regulatory agencies1 Dodd-Frank Act1 Election betting prediction markets1 Federal agencies1 Federalism1 Gary Gensler1 Judiciary1 State politics1 U.S. Supreme Court1

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