CFTC pulls Wisconsin into fight over prediction market jurisdiction

The US Commodity Futures Trading Commission has sued Wisconsin in the agency’s fifth lawsuit against a US state to assert jurisdiction over prediction markets.

The US Commodity Futures Trading Commission on Tuesday sued the state of Wisconsin in the agency’s latest effort to assert jurisdiction over prediction markets after the state sued multiple platforms.

The CFTC said in a statement that it filed the lawsuit against Wisconsin “in response to the state’s lawsuits against Kalshi, Polymarket, Crypto.com, Robinhood, and Coinbase, five CFTC-regulated prediction markets.”

“States cannot circumvent the clear directive of Congress,” CFTC Chairman Michael Selig said. “Our message to Wisconsin is the same as to New York, Arizona, and others: if you interfere with the operation of federal law in regulating financial markets, we will sue you.”

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