CFTC sues Utah to protect Kalshi's prediction market betting

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The U.S. Commodity Futures Trading Commission has filed a lawsuit against the state of Utah. The federal agency aims to preserve Kalshi's ability to offer its prediction market products to residents there. The CFTC has taken more than a dozen legal actions to defend what its leadership considers its exclusive authority over prediction markets. The dispute centers on whether federal regulators or individual states hold the power to govern these markets.

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