"Kalshi maintains that its contracts fall squarely under federal oversight through the Commodity Futures Trading Commission. Because of that, it argues, Ohio has no authority to treat its offerings as gambling."
"The company warns that if Ohio is allowed to proceed, it could face significant operational disruptions and legal challenges that threaten its business model."
Kalshi is requesting a federal appeals court to intervene against Ohio regulators who threaten to enforce state gambling laws on its platform. The company argues that its contracts are federally regulated under the Commodity Futures Trading Commission, asserting that Ohio lacks authority to classify its offerings as gambling. Following a lower court's denial of a preliminary injunction, Kalshi aims to halt any state action while it challenges this ruling. The Ohio Casino Control Commission has issued a cease-and-desist letter, claiming violations of state gambling laws.
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