Key facts
- A federal judge has stayed the CFTC's civil case against Gannon Ken Van Dyke.
- The case against Van Dyke involves allegations of using nonpublic information for prediction market bets.
- The stay is pending the outcome of a related criminal case against Van Dyke.
- FlightAware is suing prediction markets platform Kalshi.
- FlightAware accuses Kalshi of unauthorized use of its data and name.
- Kalshi allegedly used FlightAware's data and name to run markets on flight cancellations.
- FlightAware seeks damages and a court order against Kalshi.
A federal judge has issued a stay on the Commodity Futures Trading Commission's (CFTC) civil case against US Army Master Sergeant Gannon Ken Van Dyke. This decision means the CFTC's case is paused while a related criminal case involving Van Dyke proceeds. The CFTC had accused Van Dyke of leveraging nonpublic information to make profitable trades on prediction market contracts. The specifics of the criminal case and its potential impact on the civil proceedings remain central to this development.
In a separate but related development within the prediction markets industry, FlightAware, a flight-tracking service, has filed a lawsuit against Kalshi, a platform for prediction markets. FlightAware alleges that Kalshi has been using its proprietary data and brand name without proper authorization. These alleged unauthorized uses are reportedly tied to Kalshi's operation of markets that allow users to bet on flight cancellations. FlightAware is seeking financial damages from Kalshi and is also requesting a court order to permanently prevent Kalshi from using its name and data in the future.