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Federal judge rejects Polymarket bid to block Michigan gambling laws

Regulation

US federal judge Paul L. Maloney rejected Polymarket’s request to stop Michigan regulators applying state gambling laws to its operations. The court found that federal law did not prevent state action and rejected Polymarket’s argument that its sports-related contracts were swaps under federal commodities law.

The ruling leaves Michigan regulators able to apply state gambling laws to Polymarket’s operations while the dispute continues.

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New York judge questions CFTC bid to block state action against prediction markets

US District Judge Lorna G. Schofield questioned the CFTC's prospects of securing a preliminary injunction to prevent New York from enforcing gambling laws against event-contract platforms. At a 14 September hearing, the agency argued that the contracts fall under its exclusive authority; New York, the American Gaming Association and 44 state attorneys general oppose that position. Federal appeals courts have issued conflicting rulings, and the Supreme Court has been asked to resolve the dispute.

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