The US Commodity Futures Trading Commission (CFTC) invoked its emergency authority on Tuesday, ordering prediction market Kalshi to continue operating. The CFTC said the order could prevent Kalshi from offering all event contracts nationwide because it is based in New York. According to the CFTC, New York is seeking at least $36 billion in compensatory damages pending an accounting. The latest CFTC order directs Kalshi to continue operating but does not end New York’s lawsuit or resolve the underlying jurisdictional dispute. It is not a judicial ruling on whether federal law preempts state gambling enforcement.