Kalshi wins temporary pause in Arizona case

The Commodity Futures Trading Commission (CFTC) has secured a temporary restraining order, halting Arizona's criminal case against prediction market Kalshi. Arizona had accused Kalshi of operating an illegal gambling business. The CFTC argues that Arizona's action sets a dangerous precedent by using state criminal law against a federally compliant company. This intervention follows a recent federal judge's decision to allow the state's case to proceed, highlighting ongoing jurisdictional disputes. The CFTC is also pursuing similar actions in Connecticut and Illinois to prevent state-level interference with federally regulated entities.