DOJ and CFTC Seek to Block Arizona's Action Against Kalshi

The U.S. Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) have filed a motion in federal court to halt Arizona's criminal and civil enforcement actions against Kalshi. According to NS3.AI, the agencies contend that event contracts regulated by the CFTC are beyond the jurisdiction of state authorities and are governed by federal commodity law.