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Kalshi Claims CFTC and Michigan Order Put It in a 'Catch-22'

AirdropBlackHole
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On July 15, in response to the CFTC's emergency order on Tuesday preventing Kalshi from canceling trades in Michigan, Kalshi's legal advisor Robert DeNault stated that the company had complied with the Michigan court's order from June 29 to withdraw the relevant trades, but expressed disappointment with the CFTC's ruling, deeming it unfair to Kalshi. DeNault remarked that Kalshi is in a 'catch-22' situation—required to comply with the state court's order while facing conflicting federal regulatory obligations, leaving them with 'no choice'.
KALSHI-3.97%
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