The CFTC has sued New Mexico to block enforcement of state gaming laws against federally regulated prediction markets, continuing a nationwide legal battle with eight states now in federal court.
New Mexico has become the latest state to take Kalshi to court, with Attorney General Raul Torrez filing suit and accusing the prediction market platform of conducting unlicensed online sports betting across the state.
Four New Mexico tribes filed suit against Kalshi on Tuesday, arguing the prediction market platform is conducting illegal sports betting on tribal lands and bypassing gaming compacts they spent decades securing.
