CFTC pulls Wisconsin into fight over prediction market jurisdiction
The CFTC sued Wisconsin, marking its fifth state lawsuit defending prediction market jurisdiction. Wisconsin had sued Kalshi, Polymarket, Crypto.com, Robinhood, and Coinbase, claiming sports contracts violate state gambling laws. The CFTC argues federal law grants exclusive oversight of these designated contract markets, not states. This regulatory clash affects Indian crypto investors monitoring US market developments and potential global precedents for derivative platforms.
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