TheBlock
The CFTC filed an amicus brief Tuesday in the U.S. Court of Appeals for the Sixth Circuit, siding with prediction market platform Kalshi against Ohio's 2025 complaint. The agency argues Ohio is overstepping federal jurisdiction — a position it has now taken against five states in rapid succession.
The CFTC has already sued Wisconsin, Illinois, Arizona, Connecticut, and New York in its broader campaign to assert exclusive federal oversight over prediction markets. The Ohio filing signals the agency isn't slowing down: it's building a circuit-by-circuit legal record that could eventually force a definitive ruling on whether states have any role in regulating these instruments.
For Kalshi and the prediction market sector broadly, a CFTC win would clear a major regulatory overhang — federal preemption would mean one rulebook instead of a patchwork of state-level enforcement actions.
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CoinTelegraph