A federal judge denied Kalshis request for a preliminary injunction against Connecticut regulators, holding that its sports-event contracts are not swaps under the Commodity Exchange Act, so the CFTCs exclusive jurisdiction never attached. Coinbase Financial Markets lost a companion motion on the same reasoning despite never having received a cease-and-desist. Not Swaps, and Not Preempted []
A federal judge denied Kalshis request for a preliminary injunction against Connecticut regulators, holding that its sports-event contracts are not swaps under the Commodity Exchange Act, so the CFTCs exclusive jurisdiction never attached. Coinbase Financial Markets lost a companion motion on the same reasoning despite never having received a cease-and-desist. Not Swaps, and Not Preempted []
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