CFTC Sues New Mexico Over Prediction Market Jurisdiction
The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against New Mexico concerning prediction markets. This action marks New Mexico as the eighth state to be sued by the CFTC on issues related to prediction market jurisdiction. The legal challenge arises as Gary Gensler has expressed doubts regarding the authority of regulators over contracts involving sports events.
The Commodity Futures Trading Commission (CFTC) has initiated a lawsuit against the state of New Mexico. The legal action pertains to the jurisdiction over prediction markets.
New Mexico represents the eighth state that the CFTC has sued in connection with prediction markets.
The proceedings occur as Gary Gensler has raised doubts concerning the claim of authority by regulators over contracts related to sports events.
(Source: Cointelegraph)
