The U.S. Commodity Futures Trading Commission (CFTC) has escalated its legal battle over prediction markets by ordering Kalshi not to comply with a Michigan court directive requiring the company to cancel and refund certain customer trades. The move underscores the CFTCs position that it has exclusive authority to regulate Kalshi, a federally registered designated contract market (DCM), under the Commodity Exchange Act. The agency argues that state governments and courts cannot override federal oversight of regulated prediction markets. CFTC Chairman Mike Selig said the commission will not… Read more






