The latest volley in matter of the Kalshi versus state-level gaming regulators brings us to Maryland, where on Friday evening, attorneys for the Maryland Lottery and Gaming Control Commission (MLGCC) filed its opposition to Kalshi’s motion for a preliminary injunction.
Kalshi, a prediction market exchange operating as a Designated Contract Market (DCM) under the auspices of the federal Commodity Futures Trading Commission (CFTC), advanced very similar arguments in its April 21 motion as it did previously in federal courts in Nevada and New Jersey.
Namely, that Kalshi and its sports-related prediction markets are overseen by the CFTC, which maintains “exclusive jurisdiction” to regulate the kind of event contracts Kalshi allows its user base to trade.
