CFTC blocks Kalshi from canceling Michigan trades and orders exchange to honor open contracts
cftc.gov •
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Promote with Leviathan NewsThe CFTC stayed KalshiEX’s emergency rule change, stopping it from unwinding executed trades involving Michigan residents under a state court order. It also ordered Kalshi to fulfill open trades normally, arguing federal derivatives law bars a DCM from discriminating against residents by state. The order escalates the prediction-market jurisdiction fight, with the CFTC already suing nine states over enforcement against registered exchanges.
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