預測市場平台挑戰國家監管機構在體育博彩爭端方面

預測市場平台卡爾西（Kalshi）已針對內華達州遊戲控制委員會和新澤西州遊戲執法部門採取法律行動

Kalshi, a platform for prediction markets, has filed lawsuits against the Nevada Gaming Control Board and the New Jersey Division of Gaming Enforcement.

預測市場平台Kalshi已針對內華達州遊戲控制委員會和新澤西州遊戲執法部門提起訴訟。

Both state regulators had issued cease and desist orders to Kalshi to stop offering its sports-related contracts in the respective states. However, Kalshi maintains that these contracts fall under the Commodity Futures Trading Commission’s (CFTC) jurisdiction.

兩個州監管機構都向卡爾西發出停止命令，以停止在各個州提供與體育有關的合同。但是，卡爾西堅持認為，這些合同屬於商品期貨交易委員會（CFTC）管轄權。

According to Kalshi’s legal team, state-level regulators are not empowered to intervene.

根據Kalshi的法律團隊的說法，州級監管機構沒有授權進行干預。

“No state agency, regulator, department, or commission has authority to regulate, or to apply for judicial review of any action of the Commission [CFTC] with respect to any commodity code,” a portion of Kalshi’s lawsuit reads.

“沒有國家機構，監管機構，部門或委員會有權根據任何商品法規對委員會[CFTC]的任何行動進行監管或申請司法審查，” Kalshi訴訟的一部分寫道。

The statement is a direct quote from the Commodity Exchange Act. Kalshi’s legal team highlighted this point in its lawsuit.

該聲明是《商品交換法》的直接報價。卡爾西的法律團隊在訴訟中強調了這一點。

Kalshi’s event contracts are two-sided markets and function as swaps, in contrast to the traditional sports betting models where the house has an edge.

Kalshi的活動合同是雙面市場，並且可以用作掉期，與房屋具有優勢的傳統體育博彩模型相反。

“We are committed to defending the important role of prediction markets as a valuable financial innovation,” said Kalshi co-founder Tarek Mansour.

Kalshi聯合創始人Tarek Mansour說：“我們致力於捍衛預測市場作為寶貴的金融創新的重要作用。”

Earlier this year, the Nevada Gaming Control Board also issued a cease and desist order to Kalshi to halt its political and economic prediction market contracts in the state.

今年早些時候，內華達州遊戲控制委員會還發出了停止命令，要求卡爾西停止其政治和經濟預測的市場合同。

These contracts allow users to trade on the outcome of events such as US presidential elections. A US judge ruled that Kalshi’s election contracts are legal and can continue trading in the country.

這些合同允許用戶就美國總統選舉等事件的結果進行交易。美國法官裁定，卡爾西的選舉合同是合法的，可以繼續在該國進行交易。

The CFTC has adjusted its approach under new leadership. Acting director Caroline Pham announced that the agency would no longer concentrate on regulation through enforcement actions. Instead, the agency would prioritize the fight against fraud.

CFTC在新的領導下調整了其方法。代理主任卡羅琳·帕姆（Caroline Pham）宣布，該機構將不再通過執法行動專注於監管。取而代之的是，該機構將優先考慮打擊欺詐的鬥爭。

“The best way to serve the public interest is not through the threat of litigation, but rather through clear rules and guidance that promote innovation while safeguarding market integrity,” said Pham.

Pham說：“服務公共利益​​的最佳方法不是通過訴訟的威脅，而是通過明確的規則和指導來促進創新的同時維護市場完整性。”

This shift in strategy has been welcomed by the industry, which has faced a series of lawsuits and enforcement actions during the current administration.

這種戰略轉變受到該行業的歡迎，該行業在現任政府期間面臨著一系列訴訟和執法行動。

Despite examining Kalshi’s Super Bowl event contracts with Crypto.com, the CFTC ultimately decided not to take any action to ban the contracts.

儘管檢查了Kalshi與Crypto.com的超級碗活動合同，但CFTC最終決定不採取任何行動來禁止合同。