The most important lines to me are the CFTC Chairman's quote:
> These are financial exchanges that offer financial instruments and operate across state lines. They match the bid from a resident of one state with the offer of a resident from another state and submit the trade to a clearinghouse that backstops the transactions of customers throughout the country. New York has no business regulating these interstate financial markets.
If true, it seems quite irrelevant that NY is limiting its suit to NY customers. NY would be restricting trade to people in other states. (I am not a fan or user of Kalshi)
> These are financial exchanges that offer financial instruments and operate across state lines. They match the bid from a resident of one state with the offer of a resident from another state and submit the trade to a clearinghouse that backstops the transactions of customers throughout the country. New York has no business regulating these interstate financial markets.
If true, it seems quite irrelevant that NY is limiting its suit to NY customers. NY would be restricting trade to people in other states. (I am not a fan or user of Kalshi)