Kalshi wins temporary pause in Arizona criminal case

What Happened

The CFTC obtained a temporary restraining order Friday blocking Arizona from pursuing criminal charges against prediction market Kalshi. Arizona Attorney General Kris Mayes accused Kalshi of operating an illegal gambling business without a license. CFTC Chairman Michael Selig stated the order prevents states from weaponizing criminal law against federally compliant companies. The CFTC also filed suits against Connecticut and Illinois regarding similar cases.

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