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The US CFTC sues Wisconsin, escalating the conflict between federal and state-level regulation of prediction markets.

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PANews
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1 day ago
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PANews April 29 news, according to The Block report, the Commodity Futures Trading Commission (CFTC) has sued Wisconsin Governor Tony Evers, Attorney General Joshua Kaul, and Gambling Department Head John Dillett in federal court in Wisconsin. This is the fifth state sued by the CFTC in a month, following lawsuits against Illinois, Arizona, Connecticut, and New York. The CFTC again claims its "exclusive jurisdiction" over prediction markets, stating that Wisconsin's classification of federally regulated markets as criminal offenses infringes upon the federal regulatory framework designed by Congress. Last week, Wisconsin filed a lawsuit against Coinbase, Robinhood, Crypto.com, Polymarket, and Kalshi, accusing them of causing "public nuisance" with their sports event contracts. Last week, attorneys general from 37 states jointly submitted an amicus brief in court, supporting state-level authority over the regulation of prediction markets.

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