Source: Decrypt
The Trump administration has filed lawsuits against Illinois, Arizona, and Connecticut to support prediction markets. The Justice Department and the CFTC argue that the CFTC has exclusive jurisdiction over sports-related wagers on these platforms.
The lawsuits were filed jointly by the Justice Department and the CFTC, marking a significant move to challenge state gambling regulations. The Trump administration contends that the CFTC should regulate sports-related wagers on platforms like Polymarket and Kalshi. This action comes amid a growing number of state lawsuits claiming that these prediction markets are unregulated sports betting.