According to CoinMeta, after the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit in New York State, it decided to use emergency powers to require Kalshi to continue operating its national forecasting market. CFTC stated that the lawsuit in New York State attempted to stop the operation of all event contracts through a temporary restraining order, involving claims exceeding $36 billion. New York Governor Kathy Hochul said that Kalshi chose to ignore New York's gambling laws and was engaged in illegal activities, posing a threat to New York residents. CFTC emphasized that the law requires them to ensure market order and maintain a unified national market.