CFTC Tells Kalshi, Polymarket to Offer Service Nationwide, Risking Clash With Court Orders
Summary
- The US CFTC has told prediction-market platforms including Kalshi and Polymarket to offer services nationwide.
- The CFTC said exchanges registered as designated contract markets, or DCMs, should not block trading access for customers in specific states.
- CoinDesk said the CFTC's nationwide service requirement could conflict with state court orders restricting operations.
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The Commodity Futures Trading Commission has told prediction-market platforms including Kalshi and Polymarket to offer services across the US, a move that could conflict with court orders restricting operations in some states.
CoinDesk reported on November 6 that the CFTC said exchanges registered as designated contract markets, or DCMs, should not block trading access for customers in specific states.
Under the directive, the platforms must resume trading within 30 days in areas where service has been suspended, or submit to the CFTC an explanation for why they cannot do so.
Kalshi is currently blocking trading access for customers in states including Nevada, Washington and Michigan because of ongoing legal disputes.
CoinDesk said the CFTC's push for nationwide service by prediction-market platforms could set up a clash between the regulator and the courts, despite state-level orders limiting operations.
