United States — United States Commodity Futures Trading Commission & Letitia James

United States — United States Commodity Futures Trading Commission: The CFTC used emergency powers to assert its jurisdiction and protect Kalshi's operations, reinforcing its regulatory authority over event contracts. This action supports the agency's position but faces legal challenges.

Letitia James: As United States — New York's Attorney General, Letitia James filed the lawsuit against Kalshi and is a central figure in the jurisdictional dispute. Her actions are contested by the CFTC and Kalshi.

United States — United States Commodity Futures Trading Commission: The CFTC filed an emergency motion to block United States — New York's enforcement, asserting exclusive federal jurisdiction over Kalshi. A favorable ruling would protect federal oversight and potentially benefit the industry.

Letitia James: Attorney General James is leading the legal action, arguing that prediction markets are illegal gambling and seeking penalties and restitution. Her office has also sued Coinbase and Gemini.

United States — United States Commodity Futures Trading Commission: The CFTC asserts exclusive federal authority over prediction markets, countering state actions and ordering Kalshi to continue operations, shaping the regulatory landscape.

Letitia James: The New York Attorney General's lawsuit against Kalshi adds legal pressure on prediction markets, though her office has not targeted Polymarket.

United States — United States Commodity Futures Trading Commission: The CFTC granted licenses to Gemini Titan and Gemini Olympus, enabling the regulated operation of prediction markets. Its oversight is central to the legal framework.

Letitia James: United States — New York Attorney General Letitia James sued Gemini Titan, creating legal uncertainty for the prediction markets business.