CFTC sues Rhode Island over state action against prediction markets
The US Commodity Futures Trading Commission sued Rhode Island, seeking to halt the state’s action against prediction markets, according to the report. The dispute followed Rhode Island Attorney General Peter Neronha’s lawsuits against Kalshi and Polymarket; federal officials classify the platforms’ contracts as derivatives, while state authorities regard them as unlicensed gambling.
The case could shape whether federal or state authorities oversee prediction-market contracts tied to sporting events.