Arizona Attorney General Chris Mays’ lawsuit against Calci, a prediction market, appears to have hit a dead end.
The Commodity Futures Trading Commission announced Friday that it had obtained a temporary restraining order to prevent the state from pursuing criminal charges against Kalsi (CEO Tarek Mansour, pictured above).
“Arizona’s decision to weaponize state criminal law against companies that comply with federal law sets a dangerous precedent,” CFTC Chairman Michael S. Selig said in a statement. “Today’s court order sends a clear message that intimidation is not an acceptable tactic to circumvent federal law.”
The CFTC typically has five commissioners, but Selig is now the only commissioner after his confirmation in December and the resignation of former acting commissioner Caroline Pham (who left to join crypto firm MoonPay).
The state of Arizona accused Mr. Carsi of operating an illegal gambling operation in the state without a license. The announcement of the restraining order came just days after a federal judge allowed the Arizona lawsuit to proceed, according to Bloomberg.
The CFTC has also filed lawsuits in Connecticut and Illinois seeking to block similar cases from proceeding.
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