Wu Shuo learned that the U.S. Commodity Futures Trading Commission (CFTC) announced it would file a lawsuit against New Mexico, seeking to prevent the state from taking enforcement action against the prediction market business of the CFTC-registered platform Kalshi under gambling laws. Previously, New Mexico sued Kalshi, accusing it of illegal online sports betting through prediction contracts related to sporting events and attempting to evade the state’s gambling regulations. In its complaint, the CFTC argued that the Commodity Exchange Act grants it exclusive regulatory authority over event contracts and related prediction markets, and that the related federal regulatory framework takes precedence over state-level regulations.