CFTC BLOCKS NY'S $36B KALSHI SUIT — EMERGENCY POWERS INVOKED

CFTC invoked emergency powers to block New York's $36B lawsuit against Kalshi, the prediction market platform that's been letting degens bet on elections and events. The feds stepped in citing their regulatory authority over derivatives, effectively shielding Kalshi from state-level legal action—a major win for the crypto-friendly betting crowd and a shot at

Regulatory intervention on prediction markets with massive lawsuit dollar amount; moves markets and payoffs.