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DOJ and CFTC sue Utah to block gambling-law enforcement against exchanges

Regulation

The US Department of Justice and Commodity Futures Trading Commission sued Utah in federal court on 26 October, seeking to prevent enforcement of state gambling laws against CFTC-regulated exchanges. The CFTC seeks a declaration that specified Utah laws are pre-empted as applied to designated contract markets, alongside preliminary and permanent injunctions.

The litigation contests whether Utah can apply its gambling laws to federally regulated event-contract exchanges.

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CFTC sues New York to block enforcement against prediction markets

The Commodity Futures Trading Commission filed a lawsuit in New York seeking to stop the state from taking enforcement action against CFTC-registered prediction market companies. The agency said New York has used cease-and-desist letters and civil suits against those entities. The case follows lawsuits brought by New York Attorney General Letitia James against Coinbase and Gemini over alleged illegal gambling services.

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