CFTC Sues New York Over Prediction Market Oversight
The federal regulator filed a lawsuit today to block New York from enforcing gambling laws against Coinbase and Gemini. The agency claims exclusive authority.
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The federal regulatory landscape for prediction markets has become the center of a legal battle as the Commodity Futures Trading Commission (CFTC) filed a lawsuit against the state of United States's New York authorities. The federal agency is accusing the state of overstepping its jurisdiction by attempting to regulate platforms that offer event contracts through gambling laws.
