local
Trump regulator orders Kalshi to defy Michigan court – escalating battle over prediction markets
By CNN Newsource at KVIA ABC-7
· July 17, 2026
· 5 min read
By Marshall Cohen, CNN
(CNN) — The Trump administration took an extraordinary step this week to escalate its nationwide efforts to prevent states from regulating prediction markets, where users can trade on real-world events like sports, politics and pop culture.
The Commodity Futures Trading...
Key takeaway “This hasn’t happened in 46 years,” said Robert Schwartz, the agency’s former general counsel, of the CFTC using its emergency authorities.
Why this matters in The El Paso
The Commodity Futures Trading Commission's move to direct Kalshi to defy a Michigan court order has significant implications for El Paso residents who engage with prediction markets. As the CFTC continues to assert its authority over states, locals may wonder how this will impact their ability to participate in these markets. The fact that the CFTC is using emergency powers not invoked since the Cold War era suggests a high-stakes battle between federal and state regulators. El Pasoans should watch how this unfolds, as it may set a precedent for future regulation of financial markets in Texas. Additionally, the Trump administration's ties to the prediction market industry raise questions about the motivations behind the CFTC's actions, and whether they will prioritize the interests of industry players over those of local consumers. As the situation develops in other states, El Paso residents should be aware of potential changes to the regulatory landscape.
About this story
Original reporting by KVIA ABC-7 . The El Paso surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KVIA ABC-7 . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: July 17, 2026 ·
Source: KVIA ABC-7 ·
Reading time: 5 min
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Frequently asked about this story
What is this story about? By Marshall Cohen, CNN
(CNN) — The Trump administration took an extraordinary step this week to escalate its nationwide efforts to prevent states from regulating prediction markets, where users can trade on real-world events like sports, politics and pop culture.
The Commodity Futures Trading...
When was this published? This article was first published on July 17, 2026 by KVIA ABC-7 and curated for The El Paso readers.
Who reported this story? This story was reported by CNN Newsource at KVIA ABC-7. To learn more about how The El Paso selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The El Paso, or browse our daily briefing and topic hubs .
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