Kalshi ordered to stay open despite Washington ban

The CFTC has ordered Kalshi to continue operating under federal rules as a Washington judge restricted seven contract categories and set two geofencing deadlines for the prediction market. Summary Kalshi must introduce initial Washington geofencing by Aug. 19 and a multi-source system by Sept. 2. The Washington injunction covers sports, elections, politics, entertainment, culture, technology, and science contracts. A separate CFTC order requires Kalshi to operate under federal standards while New York seeks to halt its contracts. Commodity, climate, economic, and financial event contracts can remain available to Washington users. The Commodity Futures Trading Commission said on Aug. 11 that it had used its emergency authority after Kalshi notified the agency of a market emergency tied to New York Attorney General Letitia James’ lawsuit against the exchange. Under the CFTC emergency order, Kalshi must continue operating in line with the Commodity Exchange Act’s Core Principles. The agency issued the directive after New York asked a state court to halt the company’s event contracts and sought more than $36 billion in damages. Although the federal action arose from the New York case, ...