The US CFTC sues Wisconsin, as conflicts between federal and state governments over prediction market regulation issues escalate.

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Golden Finance reports that on April 29th, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Wisconsin on Tuesday, accusing the governor, attorney general, and state officials of attempting to use state law to crack down on prediction market platforms. Recently, Wisconsin sued platforms such as Coinbase, Robinhood, Crypto.com, Polymarket, and Kalshi, claiming their sports event contracts constitute “public nuisance.” The CFTC strongly asserts exclusive jurisdiction over prediction markets (event contracts), believing that the state’s attempt to criminalize federally regulated markets infringes on the nationwide derivatives market regulatory framework designed by Congress, and has requested the court to issue an injunction, declaring Wisconsin’s ban to be subordinate to federal law on CFTC-regulated platforms.

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