CFTC warns Kalshi of possible enforcement action, escalating regulatory dispute

The CFTC has warned Kalshi that it could face enforcement action, escalating a regulatory dispute the prediction-market platform characterizes as procedural. The agency's warning signals the investigation may soon intensify beyond its current stage. Traders should watch this closely because a formal enforcement case against a CFTC-regulated prediction market could chill event-contract trading and shape how US regulators treat similar platforms.