BSCN(@BSCNews):The CFTC steps between Kalshi and a Michigan court The @CFTC ordered @Kalshi to ignore a Michigan court demand to void and refund customer trades, escalating a federal-versus-state fight over prediction markets. Chair Mike Selig (@ChairmanSelig) says states can't "bully" a federally registered market, and that unwinding executed trades is unprecedented and risks a cascade. Michigan's attorney general sees it differently, calling Kalshi's sports contracts illegal gambling. A county court ordered the wagers stopped in June. Michigan is the first state to try canceling trades outright. Who wins draws the line for the whole sector, Kalshi and on-chain venues like Polymarket alike. Federal rails or state lines?

2026.07.14 21:32

The CFTC steps between Kalshi and a Michigan court The @CFTC ordered @Kalshi to ignore a Michigan court demand to void and refund customer trades, escalating a federal-versus-state fight over prediction markets. Chair Mike Selig (@ChairmanSelig) says states can't "bully" a federally registered market, and that unwinding executed trades is unprecedented and risks a cascade. Michigan's attorney general sees it differently, calling Kalshi's sports contracts illegal gambling. A county court ordered the wagers stopped in June. Michigan is the first state to try canceling trades outright. Who wins draws the line for the whole sector, Kalshi and on-chain venues like Polymarket alike. Federal rails or state lines?