CFTC Sues Wisconsin Over Prediction Market Jurisdiction
The CFTC has sued Wisconsin to assert its exclusive federal authority over prediction markets after the state targeted several major trading platforms.Summary
The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the state of Wisconsin, challenging the state's efforts to regulate prediction market platforms like Kalshi, Polymarket, and Coinbase. Wisconsin officials had previously sued these platforms, arguing that their sports-related event contracts constitute illegal gambling requiring state licenses. The CFTC contends that these platforms fall under its exclusive federal jurisdiction as designated contract markets, and it is seeking a permanent injunction to prevent Wisconsin from interfering with their operations. This action marks the fifth such lawsuit the agency has filed against a U.S. state this month, following similar conflicts with New York, Arizona, Connecticut, and Illinois.
(Source：Cointelegraph)