CFTC intervention in KalshiEx LLC v. Furcolo (D.R.I.)

Pending1st Cir.CFTC v. State

Docket last checked September 26, 2026. Snapshot — not legal advice.

As of September 27, 2026, the legality of prediction markets in Rhode Island is unresolved — litigation is ongoing with no final ruling yet. Rhode Island status and cases →

Overview

Unlike the CFTC’s standalone suits against other states, its Rhode Island action was a motion + complaint-in-intervention (filed May 28, 2026) inside Kalshi’s existing federal case, KalshiEx LLC v. Furcolo (D.R.I. No. 1:26-cv-00327-MSM-PAS) — not a separate "CFTC v. Rhode Island" lawsuit, so there is no independent case caption to verify. The intervention asserts exclusive federal jurisdiction and seeks to block state enforcement. Pending before Chief Judge McElroy. (The underlying docket 1:26-cv-00327-MSM-PAS is docket-confirmed via the CFTC’s filed motion; captionVerified stays false because this action has no standalone caption of its own.)

Timeline

May 2026

CFTC moves to intervene in KalshiEx LLC v. Furcolo (D.R.I. 1:26-cv-00327) to block state enforcement.

What's next: Preliminary-injunction motions argued August 3, 2026 at a consolidated hearing; decision pending.

Parties

Plaintiffs

  • U.S. Commodity Futures Trading Commission (intervenor-plaintiff)

Defendants

  • Rhode Island officials (via the underlying Kalshi action)
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