California Joins 37 Attorneys General in Amicus Brief Backing Utah Enforcement Against Prediction Market Kalshi
California Attorney General Rob Bonta announced on October 29 that California has joined a bipartisan coalition of attorneys general in filing an amicus brief in KalshiEX LLC v. Cox before the U.S. Court of Appeals for the Tenth Circuit. With California, 38 state attorneys general joined the brief, which supports Utah's enforcement of its sports betting and gambling laws against prediction market operator Kalshi.
The brief argues that the federal Commodity Exchange Act does not preempt state gambling laws, and that states retain authority to regulate gambling and protect vulnerable people from unlicensed betting. Prediction market platforms let users trade on outcomes such as sporting events, and whether they fall under state gambling law has become the focus of litigation in multiple states.
It is the ninth time California has joined a multistate action targeting companies like Kalshi, Bonta's office said.
Source: GSM · USA (original Chinese edition)
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