CFTC Sues New Mexico on June 13 to Defend Federal Exclusivity Over Prediction Markets

According to Cointelegraph, on June 13, the CFTC sued New Mexico's governor, attorney general, and gaming board members to block the state from applying gambling laws to federally registered futures markets. The agency contends that event contracts constitute "swaps" under federal commodity law, over which the CFTC holds exclusive jurisdiction. This is the eighth state lawsuit the CFTC has filed over prediction market authority, following actions against Rhode Island, Wisconsin, Minnesota, New York, Arizona, Connecticut, and Illinois.
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.
Comment
0/400
No comments