Kalshi Loses Bid to Halt Arizona Criminal Suit as CFTC Steps In

Kalshi Inc. failed to convince a judge to halt Arizona’s criminal proceedings against the prediction market provider as the widespread legal battle among states, companies, and the federal agency that governs derivatives markets heats up across the country.

The Anti-Injunction Act bars preliminary injunctive relief in these state court proceedings, and Kalshi hasn’t identified an exception to the law’s application, Judge Michael T. Liburdi said Wednesday. The US District Court for the District of Arizona’s order denying Kalshi a preliminary injunction and immediate temporary restraining order came the same day the US Commodity Futures Trading Commission asked for similar relief ...