Source: The Block
A coalition of 44 state attorneys general has stated that the Commodity Futures Trading Commission (CFTC) does not have the authority to regulate sports prediction markets. This assertion raises questions about the regulatory landscape for such markets.
The coalition's statement directly challenges the CFTC's jurisdiction over sports prediction markets. The attorneys general argue that the CFTC's authority does not extend to these types of markets, potentially impacting future regulatory actions.