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Arizona Attorney General Kris Mayes\u2019 case against prediction market Kalshi appears to have hit a snag.<\/p>\n
The Commodity Futures Trading Commission announced Friday<\/a> that it has won a temporary restraining order preventing the state from pursuing its criminal case against Kalshi (whose CEO Tarek Mansour is pictured above).<\/p>\n \u201cArizona\u2019s decision to weaponize state criminal law against companies that comply with federal law sets a dangerous precedent, and the court\u2019s order today sends a clear message that intimidation is not an acceptable tactic to circumvent federal law,\u201d said CFTC Chairman Michael S. Selig in a statement.<\/p>\n While the CFTC normally has five commissioners, Selig is currently the only one on the commission, following his confirmation in December<\/a> and the departure of previous acting chairman Caroline Pham (who left to join crypto company MoonPay).<\/p>\n Arizona has filed charges against Kalshi<\/a> accusing the company of operating an illegal gambling business in the state without a license. The announcement of the restraining order comes just a couple days after a federal judge allowed Arizona\u2019s case to move forward, according to Bloomberg<\/a>.<\/p>\n The CFTC also filed suits seeking to stop similar cases from moving forward in Connecticut and Illinois.<\/p>\n<\/div>\n