[New Jersey Supreme Court Allows Kalshi to Continue Operations, Rejects CFTC Suspension Motion]
According to Cointelegraph, the New Jersey Supreme Court has ruled to allow the prediction market platform Kalshi to continue offering trading contract services in the state, rejecting the U.S. Commodity Futures Trading Commission's (CFTC) motion to suspend Kalshi's operations. The case stems from a lawsuit filed by the CFTC against Kalshi, accusing the platform of conducting business without proper registration and approval. The New Jersey court stated that the CFTC failed to provide sufficient evidence to justify immediate administrative intervention to halt Kalshi's market activities in the state. Kalshi welcomed the ruling, stating that it protects consumers' legitimate right to choose and upholds a fair competitive environment. The case may still continue through the federal judicial process, involving a broader regulatory jurisdictional dispute over prediction market products in the United States.
