Cc9f267dcClaimUtah Attorney General Derek Brown stated that gambling is constitutionally banned in Utah and that no state law authorizes prediction market gambling for residentsAgreeDisagree
Cc9f267dcClaimFederal circuit courts have split on prediction markets, with the Third Circuit supporting Kalshi against New Jersey, while the Sixth and Ninth Circuits supported state authority in Ohio, Tennessee, and NevadaAgreeDisagree
Cc9f267dcClaimThe Commodity Futures Trading Commission (CFTC) asserts in its complaint against Utah that event contracts offered on registered exchanges qualify as financial swaps under the Commodity Exchange ActAgreeDisagree
Cc9f267dcClaimNew Jersey petitioned the U.S. Supreme Court to resolve the jurisdictional split between the CFTC and states regarding prediction markets after losing its appeal in the Third CircuitAgreeDisagree
Cc9f267dcClaimUtah's October 20, 2026 lawsuit against Kalshi and Susquehanna seeks an injunction, public nuisance abatement, restitution, disgorgement, and damages estimated between $30.6 million and $61.2 millionAgreeDisagree
Cc9f267dcClaimOn 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 ShelbyAgreeDisagree
Cc9f267dcClaimThe CFTC's federal complaint argues that the Commodity Exchange Act preempts Utah's gambling, election-betting, and public nuisance laws regarding event contracts traded on CFTC-registered exchangesAgreeDisagree
Cc9f267dcClaimKalshi spokesperson Jacki McGavick stated that as a national derivatives exchange registered with the CFTC, Kalshi answers exclusively to federal lawAgreeDisagree
Cc9f267dcClaimIn July 2026, 44 state attorneys general formally contested the CFTC's regulatory authority over sports-related event contractsAgreeDisagree
Cc9f267dcClaimCFTC Chair Michael Selig stated that Congress granted the agency sole responsibility and exclusive jurisdiction to oversee commodity derivatives and designated contract marketsAgreeDisagree
Cc9f267dcClaimUtah 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 KentuckyAgreeDisagree
Cc9f267dcClaimFederal courts have entered preliminary injunctions in favor of the Commodity Futures Trading Commission (CFTC) in its prediction market regulatory disputes involving Arizona, Illinois, and MinnesotaAgreeDisagree
Cc9f267dcClaimStates opposing CFTC authority argue that prediction platforms operate illegal gambling operations while avoiding state sports betting taxes and regulationsAgreeDisagree
Cc9f267dcClaimChris Giancarlo testified before the United States Senate regarding cryptocurrency regulation in early 2018AgreeDisagree
Cc9f267dcClaimThe United States Securities and Exchange Commission under Gary Gensler utilized enforcement actions and the debanking of digital asset executives and companiesAgreeDisagree
Cc9f267dcClaimIn 2016, Chris Giancarlo delivered a speech at the Cato Institute calling for a 'do no harm' regulatory approach to distributed ledger technology and BitcoinAgreeDisagree
Cc9f267dcClaimThe United States Securities and Exchange Commission under Gary Gensler issued Wells Notices to firms to halt business operations without commencing prosecutionsAgreeDisagree
Cc9f267dcClaimMike Selig served as Chief Counsel to the Securities and Exchange Commission crypto task force before his nomination as Chairman of the Commodity Futures Trading CommissionAgreeDisagree
Cc9f267dcClaimNews eventBinance restricted crypto lending, margin trading, and other services for Brazilian users beginning to comply with central bank rulesAgreeDisagree
Cc9f267dcClaimNews eventBinance submitted an application for a cryptocurrency service provider license to the Central Bank of Brazil, through its local entity, BBrasilAgreeDisagree