CFTC sues Wisconsin over prediction market enforcement actions
The CFTC has sued Wisconsin in federal court, seeking to block the state’s actions against prediction market platforms offering sports event contracts. Wisconsin had filed civil cases against Coinbase, Crypto.com, Kalshi, Polymarket and Robinhood, alleging their contracts amount to illegal sports wagering; the CFTC argues the state’s actions conflict with federal authority over swaps markets.
The case could affect whether prediction market platforms can offer sports event contracts in Wisconsin under federal or state oversight.