WSJ: CFTC sues New York State, claims exclusive regulatory rights over forecasting market According to Foresight News, the US Commodity Futures Trading Commission (CFTC) filed a lawsuit with the Federal District Court for the Southern District of New York on April 25th local time, requesting the court to confirm that the CFTC has exclusive regulatory authority over the prediction market to counter New York State's crackdown on prediction market platforms through gambling regulations. CFTC Chairman Michael Selig stated that New York State is another state that ignores federal laws and attempts to intervene in CFTC registered exchanges through state-level gambling regulations. New York Governor Kathy Hochul and Attorney General Letitia James have issued a joint statement stating that they will defend the enforcement of state gambling laws in court. \Previously, the New York Attorney General's Office had filed lawsuits against Coinbase and Gemini's predictive market platforms, accusing them of violating state gambling laws. Earlier this month, the CFTC sued Arizona, Illinois, and Connecticut for similar issues.