Benesch Partner William Walsh Quoted by CasinoBeats on Prediction Markets Supreme Court Battle

Benesch Litigation Partner William Walsh was quoted in a CasinoBeats feature examining the growing legal conflict between states and the Commodity Futures Trading Commission (CFTC) over the regulation of prediction markets. Walsh noted that he would “give the CFTC the edge” should the dispute ultimately reach the U.S. Supreme Court, pointing to the agency’s argument that the Commodity Exchange Act preempts state gambling laws as applied to event contracts. He also observed that the CFTC’s position has gained support in the courts, including after the Third Circuit affirmed a preliminary injunction related to New Jersey’s efforts to regulate Kalshi’s sports-related event contracts. Walsh further emphasized that the CFTC’s active litigation strategy demonstrates the issue’s importance to the administration and that courts appear increasingly sympathetic to the agency’s position.

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