U.S. CFTC adds New York to string of states its suing to stop prediction market pushback

The federal regulator has been suing states that seek to curtail prediction markets activity and claim it should be deemed state-regulated gaming. What to know : The U.S. derivatives regulator, the Commodity Futures Trading Commission, just added New York to its growing list of states it's suing to counter their own legal pursuit of the prediction markets industry. New York moved earlier this week to target platforms run by Coinbase and Gemini, so the CFTC is again suing to insist that the federal agency is the proper regulator of such businesses, not the states.