The Commodity Futures Trading Commission (CFTC) has instructed Kalshi to continue offering sports event contracts in Michigan despite a court order to block the state.
The CFTC has escalated its dispute with states regarding prediction markets by urging Kalshi to defy a recent Michigan court ruling. Despite the court's decision on June 29 to prohibit Kalshi from providing its sports event contracts in the state, the CFTC has directed the platform to maintain its offerings.
This move signifies a significant stance by the CFTC in the ongoing battle between federal and state authorities over the legality of prediction markets, particularly in the sports sector.
