CFTC sues New York officials over prediction markets

The Commodity Futures Trading Commission and the federal government filed a lawsuit against New York officials on 24 April, seeking a permanent injunction, according to the report. The CFTC argues that federal authority over event contracts takes precedence over state gambling laws; New York Governor Kathy Hochul and Attorney General Letitia James said the state would defend its laws in court. The CFTC also intervened in a Massachusetts court case, but the report gives no further detail on that action.