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The U.S. Commodity Futures Trading Commission is pressing prediction market exchanges to provide nationwide access despite contrary court rulings, including a federal judge’s decision in California to block access in certain tribal jurisdictions, according to cryptonews.net.
The agency is giving companies 30 days to reopen access in blocked regions or explain why doing so is not feasible.
California tribal ruling conflicts with federal position
The CFTC’s position applies to exchanges registered as designated contract markets under federal derivatives laws. The agency says those exchanges, including Kalshi and Polymarket, cannot exclude customers based on geography.
That position conflicts with the California federal court’s restriction on prediction market access in certain tribal jurisdictions. The U.S. Court of Appeals for the Ninth Circuit also found that Kalshi was likely to lose its claims that its contracts do not violate tribal gambling laws.
The California dispute is part of an ongoing legal fight. PlayCA reported on July 23 that the Kalshi and Polymarket legal fight had reached California as tribes pressed a Ninth Circuit case.
Exchanges face restrictions in multiple states
Kalshi customers in Nevada, Washington and Michigan had been geofenced while the company worked through legal disputes, according to cryptonews.net.
Utah has sought to halt Kalshi’s operations through a civil case and recent criminal charges. A Second Circuit decision against Kalshi and Coinbase may allow enforcement actions in Connecticut and New York.
Consumer advocacy group Better Markets criticized the CFTC’s position and praised the court rulings against prediction market firms.
If you or someone you know has a gambling problem, call the California Problem Gambling Helpline at 1-800-GAMBLER (1-800-426-2537), 24/7.
More from playca.com – Second Circuit Denies Kalshi, Coinbase Bid to Halt State Enforcement – Polymarket and Kalshi now show AOC ahead of Gavin Newsom for 2028 Democratic nod – NYC opens inquiry into Kalshi, Polymarket and other prediction platforms over marketing and social harms
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Source: As reported by cryptonews.net.
