Current outcome
The CFTC sued Utah and its attorney general to block state action against Kalshi, arguing that Utah is improperly interfering with CFTC-registered exchanges and seeking to recover up to $60 million in prediction-market profits.
Progress timeline
4 material updates- #01
Utah AG sues Kalshi, pursues profits from prediction market company
Utah Attorney General Derek Brown sued Kalshi, its affiliates and two Susquehanna trading companies, alleging the platform has facilitated illegal event-contract betting for over 32,000 state residents since 2024 and asking a court to force the return of about $30–60 million in profits.
Source evidence: Cointelegraph · theblockbeats · foresightnews
- #02
Pentagon bans US forces from using military info to bet in prediction markets
Pentagon chief Pete Hegseth issued a memo prohibiting all Department of War personnel from using classified or nonpublic information to place wagers on military actions via prediction markets such as Kalshi and Polymarket, citing operational security and judgment risks.
Source evidence: Cointelegraph · foresightnews
- #03
NBA与CFTC签署预测市场监管协议，Kalshi和Polymarket成首选合作平台
The CFTC and the NBA signed a memorandum of understanding to share information and coordinate on preventing insider trading and manipulation in prediction markets, with the NBA designating Kalshi and Polymarket as its preferred prediction-market platforms while state-versus-federal jurisdiction over such contracts remains contested.
Source evidence: theblockbeats · Cointelegraph · foresightnews · Decrypt
- #04
CFTC sues Utah to block action against prediction markets
The CFTC sued Utah and its attorney general to block state action against Kalshi, arguing that Utah is improperly interfering with CFTC-registered exchanges and seeking to recover up to $60 million in prediction-market profits.
Source evidence: Cointelegraph