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44 U.S. State Attorneys General Oppose CFTC Authority Over Sports-Related Prediction Market Contracts

Regulation & Policy

2026-07-29 02:34:33

On Monday, 44 U.S. state attorneys general, led by Ohio Attorney General Andy Wilson, sent a letter to the Commodity Futures Trading Commission (CFTC) opposing its authority to regulate sports-related event contracts on prediction market platforms. The letter was submitted as the CFTC's public comment period for its first proposed prediction market rules—focused on sports products—closed Monday evening. The attorneys general stated that the proposed rule "exceeds CFTC's statutory authority, conflicts with constitutional principles, and is arbitrary and capricious in its current form," urging the agency to clarify that sports betting and gambling should be governed by state law rather than traded on designated contract markets.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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FateRestored

· 21m ago

坚定HODL💎

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FateRestored

· 24m ago

Buy the dip and enter 😎

View OriginalReply0