CFTC sues Utah to block action against prediction markets
Summary
The federal derivatives regulator is taking legal action against Utah to prevent the state from penalizing prediction platforms. Utah previously filed a lawsuit demanding substantial profits from Kalshi regarding event-based contracts.
The US state filed a lawsuit against Kalshi last week, seeking to recover up to $60 million in profits related to event contracts on prediction markets.
Source: Read the full story at Cointelegraph.com News
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