Kalshi sues Iowa Attorney General and State Racing and Gaming Commission Odaily Planet Daily News predicts that market Kalshi has sued Iowa Attorney General Brenna Bird and the Iowa Racing and Gaming Commission in federal court, stating that there is a "significant risk" of being sued for enforcement action to prevent their event contracts. Kalshi stated that his representative had previously met with Bird, thinking it was to discuss a tax bill currently under review by the Iowa state legislature. However, during the meeting, a group of lawyers (including the Iowa State Attorney General) questioned him with a series of sharp questions about whether his federally regulated products violated Iowa state law. Kalshi stated that Bird had informed its representatives that the Attorney General's Office had been "monitoring" the company for a "long time". After the meeting, Kalshi contacted the representative of the Attorney General to seek assurance that no enforcement action would be taken, but the other party replied in writing that "no assurance will be given regarding potential future enforcement actions". Kalshi argued in the lawsuit that federal law takes precedence over Iowa state law, and as a designated contract market, it falls under the exclusive jurisdiction of the Commodity Futures Trading Commission (CFTC). Previously, Kalshi had engaged in legal disputes with gambling regulatory agencies in multiple states regarding the legality of sports event contracts. Federal courts in different states have made inconsistent rulings: courts in New Jersey and Tennessee support Kalshi and temporarily prevent state regulatory agencies from taking action; The Ohio federal court rejected Kalshi's request on Monday this week; Earlier this year, the Massachusetts federal court also blocked Kalshi from providing event contracts in the state.