CFTC sues New York over prediction market crackdown as 38 AGs back Massachusetts’ Kalshi case
CFTC sued New York's attorney general over blocking Kalshi's prediction market platform, with 38 state attorneys general supporting Massachusetts' defense of the exchange. This escalates the regulatory battle over whether states or federal commodities regulators control prediction markets. The clash follows New York's separate enforcement against Coinbase and Gemini, signaling intensifying legal friction between state and federal crypto oversight frameworks affecting India's regulatory approach monitoring.
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