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"Kalshi" Removes All Sports Event Options Amidst CFTC Investigation

"Kalshi" has removed all of its sports-related event options amid an investigation launched by the U.S. Commodity Futures Trading Commission (CFTC), according to an NPR report citing anonymous sources. Federal regulators are scrutinizing "mention markets," with sources indicating these markets are potentially highly susceptible to manipulation. A court order from Washington State's King County also compels Kalshi to cease marketing or offering contracts related to sports, elections, politics, entertainment, and mentions, citing violations of gambling laws and high fraud risks. The order prohibits Kalshi from advertising such bets to Washington consumers. This follows a high-profile incident where a former Trump teleprompter operator allegedly used advance access to speeches for mention market trades. Kalshi froze approximately $90,000 of his profits and reported the activity to the CFTC. The company, which has positioned itself as a "prediction market," is facing a complex and rapidly evolving legal landscape with differing state-level rulings on its contracts.

cryptonews.ru08/15 12:37