The CFTC has asked Kalshi to continue fulfilling settled trades involving Michigan residents, despite a prior order by the state court to stop offering sports event contracts and unwind some transactions. CFTC Chairman Michael Selig said the state government has no authority to force a federally regulated designated contract market to violate the Commodity Exchange Act, and that canceling executed trades could undermine market contract certainty. The move further intensifies the dispute between federal and state regulators over jurisdiction over prediction markets; the CFTC has previously sued multiple states over related issues. (The Block)