The CFTC exercised its emergency authority following a New York lawsuit that sought to prevent KalshiEX from offering event contracts nationwide. The article is a thin snippet from Proskauer's FinReg Monthly Update and provides no further details on the timing of the emergency action, the specific legal grounds, or the current status of the case.

Suggests active regulatory and legal pressure on Kalshi's national event-contract offering, with the CFTC intervening directly. The outcome could shape how other state-level challenges against CFTC-regulated prediction markets are handled.