A federal judge granted the CFTC a preliminary injunction against Arizona. At the same time, he signaled a potential stay pending Ninth Circuit ruling.
A federal judge in Arizona has granted the Commodity Futures Trading Commission (CFTC) a preliminary injunction against Arizona officials, concluding that federal law likely preempts the state’s attempts to enforce its regulations on the Kalshi prediction market. The judge's decision may be put on hold pending a ruling from the Ninth Circuit.