Trump admin sues Utah to save Kalshi from the state's total ban on gambling

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The Trump administration is trying to stop Utah from enforcing its gambling ban against Kalshi, making Utah the 10th state sued by the US government agency that regulates prediction markets. Utah, which prohibits gambling, sued Kalshi in a state court last week. Utah’s lawsuit seeks an order prohibiting Kalshi from offering bets on sports, elections, politics, and other events.

特朗普政府正试图阻止犹他州针对 Kalshi 执行其赌博禁令，这使得犹他州成为被美国监管预测市场的政府机构起诉的第 10 个州。禁止赌博的犹他州上周在州法院起诉了 Kalshi。犹他州的诉讼旨在寻求一项禁令，禁止 Kalshi 提供有关体育、选举、政治和其他事件的投注。

“Kalshi runs an online casino in Utah and calls it a prediction market. That violates Utah law,” Utah Attorney General Derek Brown, a Republican, said last week. “Not only do our state laws ban gambling but Utah is one of only two states where gambling is also prohibited under the state constitution. For 130 years, Utah has been clear: gambling has no place here, and we will enforce our laws.”

“Kalshi 在犹他州经营着一家在线赌场，却称其为预测市场。这违反了犹他州的法律，”共和党籍犹他州总检察长德里克·布朗（Derek Brown）上周表示。“我们的州法律不仅禁止赌博，而且犹他州是仅有的两个在州宪法中也禁止赌博的州之一。130 年来，犹他州的立场一直很明确：这里没有赌博的容身之地，我们将执行我们的法律。”

Utah already defeated Kalshi in federal court after the prediction market filed a preemptive lawsuit that sought to prevent the state from enforcing its gambling laws. Now that Utah is moving ahead in its attempt to shut down Kalshi, it must defend against a lawsuit filed by the US Commodity Futures Trading Commission (CFTC).

在 Kalshi 提起先发制人的诉讼试图阻止该州执行其赌博法后，犹他州已经在联邦法院击败了 Kalshi。现在，随着犹他州继续推进其关闭 Kalshi 的尝试，它必须应对美国商品期货交易委员会（CFTC）提起的诉讼。

The CFTC “has filed a lawsuit against Utah to block the state’s efforts to shut down CFTC-registered contract markets using state laws,” the commission said yesterday. “The lawsuit follows Utah’s decision to file civil enforcement actions in state court against CFTC-regulated markets and other businesses. Utah’s effort to restrict the functioning of CFTC-registered exchanges obstructs Congress’s decision to federally preempt state law.”

CFTC 昨日表示，该委员会“已对犹他州提起诉讼，旨在阻止该州利用州法律关闭 CFTC 注册的合约市场”。“此次诉讼是在犹他州决定在州法院对受 CFTC 监管的市场和其他企业提起民事执法行动之后进行的。犹他州限制 CFTC 注册交易所运作的努力，阻碍了国会联邦优先于州法律的决定。”

If Utah can shut down Kalshi, that could spell trouble for Kalshi’s chief prediction-market rival, Polymarket, and for sports betting sites like DraftKings and FanDuel. DraftKings and FanDuel advertise availability in all US states via a mix of products, including prediction-market platforms in states like Utah. Both are registered with the CFTC.

如果犹他州能够关闭 Kalshi，这可能会给 Kalshi 的主要预测市场竞争对手 Polymarket，以及 DraftKings 和 FanDuel 等体育博彩网站带来麻烦。DraftKings 和 FanDuel 通过多种产品在全美各州宣传其服务，其中包括在犹他州等地的预测市场平台。这两家公司均已在 CFTC 注册。

The CFTC previously filed lawsuits against Arizona, Connecticut, Illinois, Kentucky, Minnesota, New Mexico, New York, Rhode Island, and Wisconsin. The federal agency also filed briefs supporting Kalshi in appeals court cases. “Utah seeks to shut down prediction markets across a wide variety of markets,” CFTC Chairman Michael Selig said.

CFTC 此前曾对亚利桑那州、康涅狄格州、伊利诺伊州、肯塔基州、明尼苏达州、新墨西哥州、纽约州、罗德岛州和威斯康星州提起过诉讼。该联邦机构还在上诉法院案件中提交了支持 Kalshi 的简报。CFTC 主席迈克尔·塞利格（Michael Selig）表示：“犹他州试图关闭各种各样的预测市场。”

“Event contracts do not just serve hedging and investment purposes—they also provide the public with information about the outcome of future events. Congress entrusted the CFTC to be the federal regulator with sole responsibility to oversee these markets. As I’ve said before, the CFTC has the expertise and responsibility to defend its exclusive jurisdiction over commodity derivatives, and that’s exactly what we’ll do.”

“事件合约不仅服务于对冲和投资目的，它们还为公众提供有关未来事件结果的信息。国会委托 CFTC 作为联邦监管机构，承担监督这些市场的唯一责任。正如我之前所说，CFTC 有专业知识和责任来捍卫其对商品衍生品的专属管辖权，而这正是我们将要做的。”

The US Commodity Exchange Act (CEA) gives the CFTC authority to regulate swaps. The key legal questions being grappled with by courts throughout the US are whether event contracts offered by prediction markets qualify as swaps, and whether the CFTC jurisdiction over swaps preempts states from applying their gambling laws.

《美国商品交易法》（CEA）赋予了 CFTC 监管掉期交易的权力。美国各地法院正在处理的关键法律问题是：预测市场提供的事件合约是否符合掉期交易的资格，以及 CFTC 对掉期交易的管辖权是否优先于各州执行其赌博法的权力。