US Court Rejects CFTC Bid to Pause New York Case Against Kalshi
Minseung Kang
Summary
- A federal court in New York has rejected a request to pause New York state's lawsuit against Kalshi.
- The decision means New York state's enforcement case against Kalshi will continue for now.
- The ruling was not a final judgment on the lawsuit itself, but only a denial of the request to pause the case.
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A federal court in New York has denied an emergency request by the Commodity Futures Trading Commission to pause New York state's lawsuit against prediction market platform Kalshi.
The ruling means New York state's enforcement case against Kalshi will continue for now, according to crypto media outlet The Block on August 4.
The decision was not a final judgment on the lawsuit itself. It only rejected the request to halt the case while the litigation proceeds.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.