Former Chairman Gensler Supports Ohio in Lawsuit Against Prediction Market Platform Kalshi, Argues Sports Betting Not Under CFTC Jurisdiction

Jurisdiction Dispute Intensifies

Former CFTC and SEC Chairman Gary Gensler submitted an amicus brief to the appellate court on June 11, supporting Ohio in its lawsuit against the prediction market platform Kalshi.

In his brief, Gensler argued that the Dodd-Frank Act, established in 2010 following the 2008 financial crisis, does not provide a basis for CFTC jurisdiction over sports betting, advocating for the effectiveness of state regulations...