The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the state of Utah in federal court, seeking to block the state's attorney general from imposing restrictions on the prediction market platform Kalshi. Utah's constitution prohibits gambling, and the state government argues that Kalshi's services to local residents constitute illegal gambling. A federal district court previously ruled in favor of the state in a lawsuit between Kalshi and the state, and the case is currently on appeal. CFTC Chairman Mike Selig argues that prediction market event contracts should be exclusively regulated by the CFTC, not by individual state gambling laws. Currently, the CFTC is involved in related legal disputes with 10 states, and federal appeals courts are divided on the issue of regulatory authority over prediction markets. (CoinDesk) https://(wublock123.com)/news/cftc-sues-utah-to-block-gambling-ban-on-kalshi-prediction-markets-70814