Federal government sues New Mexico over Kalshi sports contracts dispute

A new legal fight over prediction markets is unfolding in New Mexico after the United States and the Commodity Futures Trading Commission (CFTC) sued the state, arguing that efforts to stop Kalshi’s sports-related contracts conflict with federal law. The complaint , filed Friday (June 12) in federal court, centers on a lawsuit brought by New Mexico Attorney General Raul Torrez on June 4. In that case, the state accused Kalshi of operating unlicensed online sports betting and sought to stop the c