A New York judge has denied the Commodity Futures Trading Commission's motion to halt its enforcement action against Kalshi, the prediction market platform. The ruling, issued by Judge Victor Marrero, keeps the CFTC's case alive and also leaves a separate New York state action against Kalshi in place.
The Ruling
Judge Marrero's decision rejected the CFTC's request to stop its own enforcement proceedings. The agency had sought to halt the action, but the judge ruled against that move. The order does not permanently bar the CFTC from trying again; the agency is allowed to renew its request before the same judge.
What the Decision Means
With the motion denied, the CFTC's enforcement action against Kalshi continues. The ruling also leaves New York's case against the company intact. Both proceedings remain active, though the CFTC now has the option to revisit its request to halt its own action at a later date.
Next Steps
The CFTC can file a renewed motion before Judge Marrero. No timeline has been set for that potential refiling. Meanwhile, Kalshi faces ongoing legal scrutiny from both federal and state regulators.
