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CFTC Sues New York Over State Pushback on Prediction Markets
The CFTC sued New York on Friday to block state interference with federally regulated prediction market contracts. The agency said federal law gives it exclusive jurisdiction over those markets, while New York has argued that contracts offered by Coinbase and Gemini violate state gambling laws. Also on Friday, 37 state attorneys general backed a Kalshi legal brief that said states still need authority to protect citizens in this area.