Gate News Report, March 18 — The U.S. Commodity Futures Trading Commission (CFTC) Chairman Mike Selig responded to Arizona Attorney General’s criminal charges against prediction market platform Kalshi. Selig stated that the Arizona Attorney General’s criminal charges against a trading platform registered with the CFTC related to prediction markets are essentially a jurisdictional dispute, and elevating it to criminal prosecution is “completely inappropriate.” The CFTC is closely monitoring the development of the case and assessing possible responses.
Previously, Arizona Attorney General Kris Mayes filed criminal charges against Kalshi, accusing it of providing illegal betting services within the state, including allowing users to wager on sports events and election results. Mayes stated in a release that although Kalshi positions itself as a “prediction market,” it is actually operating an illegal gambling business and allowing users to bet on Arizona elections, violating local laws. Mayes emphasized, “No company can decide on its own which laws to follow.”
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