On July 31, prediction market platform Kalshi sent a letter to the U.S. Second Circuit Court of Appeals, stating that a lawsuit filed by the New York Attorney General could force it to cease operations nationwide. Kalshi reiterated that the court should urgently issue an injunction during the appeal process. Kalshi claimed that New York is seeking to prohibit it from offering event contracts related to sports, culture, elections, etc., to users within or from New York without obtaining local licenses. Kalshi argued that such event contracts should fall under the exclusive jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC), and state governments have no authority to impose additional regulatory requirements. The case has now been transferred from state court to federal court. https://(wublock123.com)/news/kalshi-new-york-lawsuit-may-force-us-shutdown-65715