The battle over market regulation authority is escalating, with the CFTC suing Wisconsin to defend its "exclusive jurisdiction."

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Mars Finance News: The U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Wisconsin on Tuesday, alleging that the governor, the attorney general, and other state officials are trying to use state laws to crack down on prediction market platforms. Recently, Wisconsin sued platforms including Coinbase, Robinhood, Crypto.com, Polymarket, and Kalshi, claiming that their sports event contracts constitute “public nuisance.” The CFTC strongly argues that it has “exclusive jurisdiction” over prediction markets (event contracts), contending that the state government’s attempt to criminalize a federally regulated market infringes on the nationwide swaps market regulatory framework designed by Congress, and it is asking the court to issue an injunction declaring that Wisconsin’s ban is superseded by federal law on platforms regulated by the CFTC.

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