Source: Decrypt
Gary Gensler has filed an amicus brief asserting that Congress did not intend for federal oversight of sports betting. His brief supports Ohio in a legal appeal involving prediction markets.
Former SEC and CFTC chair Gary Gensler submitted an amicus brief to the Sixth Circuit Court of Appeals, arguing that the Dodd-Frank Act did not grant the CFTC exclusive authority over nationwide sports wagering. He emphasized that state gaming laws remain valid. Additionally, 30 Native American tribes and 11 tribal associations have filed a brief supporting Ohio in the appeal related to Kalshi's challenge against state cease-and-desist orders.