The move by Michael Selig, the recently appointed chairman of the Commodity Futures Trading Commission, could have enormous implications for how sports betting is regulated in the country and, if Kalshi and Polymarket were to prevail, could erode the ability for states to effectively regulate gambling. In an opinion piece in the The Wall Street Journal, Selig wrote, “The CFTC will no longer sit idly by while overzealous state governments undermine the agency’s exclusive jurisdiction over these markets by seeking to establish statewide prohibitions on these exciting products.” In response, Kalshi has appealed the case to the U.S. Court of Appeals for the 9th Circuit, which is why the CFTC is weighing in through what is known as a “friend of the court” briefing.
Author: The Associated Press
Published at: 2026-02-17 22:36:40
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