Kalshi fights New York bid to move prediction market case to state court from federal court
Kalshi is pushing to keep New York’s lawsuit against the prediction-market operator in federal court, saying the state’s case cannot… Continue reading Kalshi fights New York bid to move prediction market case to state court from federal court The post Kalshi fights New York bid to move prediction market case to state court from federal court appeared first on ReadWrite .
Prediction market operator Kalshi is fighting New York’s attempt to move its legal dispute to state court from its current federal court status. In an August 21 filing with the U.S. District Court for the Southern District of New York, Kalshi rejected Attorney General Letitia James’ call to return the case to state jurisdiction.
The company contends that the legal issues at hand involve complex federal matters, making it essential to keep the case in federal hands. Kalshi's argument centers on the Wire Act, Unlawful Internet Gambling Enforcement Act, and Commodity Exchange Act, and insists that its federally regulated contracts should be left to the CFTC's jurisdiction.
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