Anonymousabout 18 hours ago
The CFTC and DOJ filed unprecedented federal lawsuits against Arizona, Connecticut, and Illinois on April 2, 2026, seeking to block the states from enforcing their gambling laws against prediction market platforms like Kalshi and Polymarket. The suits assert that the Commodity Exchange Act gives the CFTC exclusive jurisdiction over event contracts, but states — backed by a coalition of 34 attorneys general — argue these platforms are unlicensed gambling operations costing them over $600 million in tax revenue, setting up a likely Supreme Court showdown over federalism, consumer protection, and the future of a $200-billion-a-year industry.