预测市场平台挑战国家监管机构在体育博彩争端方面

预测市场平台卡尔西（Kalshi）已针对内华达州游戏控制委员会和新泽西州游戏执法部门采取法律行动

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

预测市场平台Kalshi已针对内华达州游戏控制委员会和新泽西州游戏执法部门提起诉讼。

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.

两个州监管机构都向卡尔西发出停止命令，以停止在各个州提供与体育有关的合同。但是，卡尔西坚持认为，这些合同属于商品期货交易委员会（CFTC）管辖权。

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

根据Kalshi的法律团队的说法，州级监管机构没有授权进行干预。

“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.

“没有国家机构，监管机构，部门或委员会有权根据任何商品法规对委员会[CFTC]的任何行动进行监管或申请司法审查，” Kalshi诉讼的一部分写道。

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

该声明是《商品交换法》的直接报价。卡尔西的法律团队在诉讼中强调了这一点。

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的活动合同是双面市场，并且可以用作掉期，与房屋具有优势的传统体育博彩模型相反。

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

Kalshi联合创始人Tarek Mansour说：“我们致力于捍卫预测市场作为宝贵的金融创新的重要作用。”

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.

今年早些时候，内华达州游戏控制委员会还发出了停止命令，要求卡尔西停止其政治和经济预测的市场合同。

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.

这些合同允许用户就美国总统选举等事件的结果进行交易。美国法官裁定，卡尔西的选举合同是合法的，可以继续在该国进行交易。

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在新的领导下调整了其方法。代理主任卡罗琳·帕姆（Caroline Pham）宣布，该机构将不再通过执法行动专注于监管。取而代之的是，该机构将优先考虑打击欺诈的斗争。

“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说：“服务公共利益​​的最佳方法不是通过诉讼的威胁，而是通过明确的规则和指导来促进创新的同时维护市场完整性。”

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

这种战略转变受到该行业的欢迎，该行业在现任政府期间面临着一系列诉讼和执法行动。

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

尽管检查了Kalshi与Crypto.com的超级碗活动合同，但CFTC最终决定不采取任何行动来禁止合同。