CoinDesk
Kalshi customers in Washington, Michigan and Nevada are blocked from the platform as state gambling laws collide with federal oversight. In Washington, a local court order followed authorities’ accusation that Kalshi operated an illegal gambling business. Kalshi is seeking reconsideration after the state agreed not to enforce the same law against Crypto.com while appeals continue.
The disputes also involve Connecticut and New York, with sports-related contracts a frequent target. CFTC Chairman Mike Selig is defending federal authority over event contracts while preparing rules for market design, incentive programs and retail consumer protection.
Selig is the sole member of a commission designed for five members. The outcome will help determine whether prediction markets operate under federal oversight, state gambling laws, or a contested mix of both.
Frequently asked questions
-
Which states currently block Kalshi customers?
Customers in Washington, Michigan and Nevada are currently blocked from Kalshi.
-
Why is Kalshi seeking reconsideration in Washington?
Kalshi argues that Washington agreed not to enforce the same law against Crypto.com while appeals continue, even though the competitor can offer identical event contracts.
-
What is CFTC Chairman Mike Selig doing in the dispute?
Selig is defending federal authority over event contracts and preparing rules for market design, incentive programs and retail consumer protection.
-
How large is the CFTC commission Selig currently leads?
Selig is the sole member of a commission designed to have five members.
-
What could the legal outcome decide for prediction markets?
It could determine whether prediction markets operate under federal oversight, state gambling laws, or a contested mix of both.
Crypto Rank News
CryptoSlate
Crypto News
Altcoin Daily
CoinTelegraph
TheBlock
WatcherGuru