Wu Blockchain has learned that the U.S. Commodity Futures Trading Commission (CFTC) has filed a motion with the Rhode Island Federal District Court to intervene in a lawsuit, aiming to prevent Rhode Island from enforcing state gambling laws against a CFTC-registered prediction market. Previously, a CFTC-registered designated contract market filed a lawsuit in response to Rhode Island's impending enforcement actions. Rhode Island then initiated a parallel lawsuit in state court, seeking civil penalties. CFTC Chairman Michael S. Selig stated that event contracts are considered commodity derivatives and fall under the jurisdiction of the Commodity Exchange Act, granting the CFTC exclusive regulatory authority over registered prediction markets. https://(wublock123.com)/news/cftc-seeks-intervention-rhode-island-case-exclusive-regulation-of-prediction-markets-61823