CFTC sues Wisconsin officials over prediction market lawsuits

The US Commodity Futures Trading Commission filed a federal complaint on 28 April seeking to block Wisconsin lawsuits targeting prediction market platforms, including Kalshi, Coinbase and Polymarket. The CFTC argues that federal authority over financial markets pre-empts state gambling laws; Wisconsin Attorney General Josh Kaul says the companies’ sports-related products amount to illegal gambling. The state’s three cases were filed on 23 April and moved to federal court the following day.