CFTC chair calls Utah’s Kalshi prosecution blatant overreach amid federal suit

CFTC Chair called Utah's prosecution of prediction market Kalshi 'blatant overreach' as a federal lawsuit seeks to block state enforcement. Utah has already won an initial ruling against the exchange, setting up a federal-versus-state clash over prediction market jurisdiction. Traders in event and prediction markets should watch how this regulatory turf war resolves, since it could shape US access to these products.