California and Minnesota attorneys general challenge CFTC prediction-market oversight
California Attorney General Rob Bonta and Minnesota Attorney General Keith Ellison criticised the CFTC’s approach to prediction-market oversight, arguing that states are better placed to address gambling-related harms. The CFTC claims exclusive jurisdiction over the platforms, while the dispute follows its lawsuit against Minnesota over the state’s ban on prediction markets.
The jurisdictional dispute could affect which rules prediction-market operators must follow in the two states.