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The CFTC directly sued New York, mainly to block local governments from using gambling laws to regulate prediction markets. For the crypto industry, this isn't an immediate price-changing news, but it has pushed the regulatory boundary forward. The market will first trade on whether "event contracts can still be made and who will oversee them." The narrative in the $SOL ecosystem related to prediction markets and on-chain trading is temporarily optimistic, but whether it will truly develop depends on subsequent legal progress. $SOL
$SUI $FIL