44 States Challenge CFTC's Authority Over Prediction Markets
A coalition of 44 state attorneys general has urged the CFTC to withdraw its proposed prediction market rule, claiming it exceeds the agency's authority. This challenge underscores the ongoing tensions between state and federal regulatory frameworks in the cryptocurrency sector, particularly regarding sports prediction markets.
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CFTC faces challenge from 44 states over prediction market rule
44 state attorneys general have urged the U.S. Commodity Futures Trading Commission to withdraw and rewrite its proposed prediction market rule, arguing that it exceeds the agency’s authority and intrudes into an area traditionally regulated by states. According to a…
Coalition of 44 state attorneys general says CFTC lacks authority over sports prediction markets
The group of AGs sent a letter to the CFTC, urging the agency to draft new rules consistent with the Commodity Exchange Act.

