Calci wins temporary stay in Arizona criminal case

Arizona Attorney General Chris Mayes’ case against prediction market Kalshi appears to have hit a snag.

Commodity Futures Trading Commission Announced Friday It obtained a temporary restraining order preventing the state from pursuing its criminal case against Kalshi (whose CEO, Tariq Mansour, is pictured above).

“Arizona’s decision to weaponize state criminal law against companies that comply with federal law sets a dangerous precedent, and today’s court order sends a clear message that intimidation is not an acceptable tactic to circumvent federal law,” said CFTC Chairman Michael S. Selig in a statement.

While the CFTC typically has five commissioners, Selig is currently the only one on the commission, after Confirmed in December and the departure of former acting president Carolyn Pham (who left to join cryptocurrency company MoonPay).

Arizona has Charges were filed against Kalshi The company was accused of running an illegal gambling business in the state without a license. The restraining order announcement comes just two days after a federal judge allowed the Arizona case to move forward. According to Bloomberg.

The CFTC has also filed suits seeking to block similar cases from moving forward in Connecticut and Illinois.