U.S. CFTC moves to stop Kalshi from canceling trades as ordered by Michigan court
CoinDesk 2026-07-14 20:51:05
Context: The U.S. Commodity Futures Trading Commission (CFTC) has taken action to prevent Kalshi, a trading firm, from canceling trades as ordered by a Michigan court. The CFTC, which regulates derivatives trading at Kalshi, argues that Michigan's court order is an attempt to "bully" the firm into reversing trades. This move has significant implications for the trading firm's operations and the regulatory environment.
Key Facts
- The CFTC, as the federal derivatives regulator overseeing trading at Kalshi, has moved to stop the firm from canceling trades as mandated by a Michigan court order.
- The Michigan court had ordered Kalshi to reverse certain trades, which the CFTC contends is an inappropriate attempt to exert pressure on the firm.
- The CFTC's action aims to protect Kalshi from what it describes as Michigan's efforts to "bully" the firm into canceling trades, potentially setting a precedent for regulatory authority in similar cases.