The US Commodity Futures Trading Commission (CFTC) has announced legal action against officials in Utah. It is trying to stop the state's action against prediction markets. Cointelegraph reported the story on Oct 27, 2026.
The fight started when Utah filed a lawsuit against Kalshi last week. Utah's attorney general said he would sue to make Kalshi and its affiliates give back up to $60 million in profits. The state says Kalshi made that money illegally from event contracts on prediction markets.
So there are two sides. Utah wants the $60 million returned, and the CFTC wants Utah's action blocked. The report does not say which court will hear the CFTC's case, what legal arguments the CFTC is making, how Kalshi has responded, or when either case might be decided.
For anyone already holding a perpetual position on Bitget, Bybit, MEXC or OKX, this changes nothing directly. The dispute is about event contracts on prediction markets, not perpetual futures. The report mentions no change to funding rates, trading fees or liquidity on any of these exchanges.
Source: cointelegraph — CFTC sues Utah to block action against prediction markets