CFTC orders prediction markets to unblock states in 30 days
Kalshi’s sports contracts are already banned by court order in three states, with Utah pursuing criminal charges.
The hit
The Commodity Futures Trading Commission on Thursday ordered prediction markets to unblock any geofenced states or explain why they cannot, according to InGame. The order could force Kalshi to defy existing state-court bans, & push DraftKings & FanDuel into risking their sportsbook licences if they keep offering sports event contracts nationwide.
Why it matters
Until now, prediction markets geofenced states where courts ruled their sports contracts illegal gambling, or where state gaming commissions threatened to revoke operators’ licences over sports event contracts. The CFTC says that breaches its impartial access rule. Bettors in blocked states could get access back.
The record
| Deadline to cease geofencing or explain | 30 days (CFTC) |
|---|---|
| Sportsbook operators geofencing contracts | DraftKings, Fanatics & FanDuel |
What happens next
Watch the Division of Market Oversight for any compliance explanations filed by exchanges, & whether Kalshi defies the bans.
Sources: CFTC To Predictions: Unblock Geofenced States In 30 Days
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