DOJ Sues States Over Prediction Market Laws
Tucson News Today | 2 Min Now | The Daily News Now! · The Daily News Now!
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Show Notes
The Department of Justice intervenes in a legal battle between Arizona, Connecticut, and Illinois, suing to block their gaming laws targeting prediction markets like Kalshi. Kalshi, facing criminal counts in Arizona, argues federal regulators, not states, should handle this. State officials counter, claiming these contracts resemble bets to users. The CFTC chair supports the DOJs move, aiming to clear confusion with new rules. A federal judge in Phoenix is set to rule next week, as the Justice Department prepares to file its own block on Arizonas case.
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