The US Commodity Futures Buying and selling Fee on Tuesday sued the state of Wisconsin within the company’s newest effort to claim jurisdiction over prediction markets after the state sued a number of platforms.
The CFTC stated in a statement that it filed the lawsuit towards Wisconsin “in response to the state’s lawsuits towards Kalshi, Polymarket, Crypto.com, Robinhood, and Coinbase, 5 CFTC-regulated prediction markets.”
“States can not circumvent the clear directive of Congress,” CFTC Chairman Michael Selig stated. “Our message to Wisconsin is identical as to New York, Arizona, and others: for those who intervene with the operation of federal regulation in regulating monetary markets, we are going to sue you.”
It’s the company’s fifth lawsuit towards a US state that seeks to halt motion towards prediction markets. The CFTC sued New York on Friday and filed lawsuits towards Arizona, Connecticut, and Illinois earlier this month after the states sued prediction market platforms.
Michael Selig talking on stage at Bitcoin 2026 in Las Vegas on Monday. Supply: YouTube
Wisconsin sued the five companies on Thursday, and like many US state authorities, argued that prediction markets providing sports-related occasion contracts are unlawful betting that requires state gaming licenses.
It’s an assertion the platforms and the CFTC have rebuffed previously, arguing the contracts are regulated solely below federal regulation.
The CFTC argued in its newest grievance, filed alongside the Justice Division’s Civil Division in a Wisconsin federal courtroom, that it has “unique jurisdiction” over the occasion contracts on prediction markets, regulated as designated contract markets below federal regulation.
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“Wisconsin’s try and criminalize and shut down federally regulated markets intrudes on the unique federal scheme Congress designed to supervise nationwide swaps markets,” the CFTC wrote in its grievance.
The company requested the courtroom to rule that state playing legal guidelines don’t apply to CFTC-regulated designated contract markets and difficulty a everlasting injunction prohibiting Wisconsin from taking motion towards prediction markets.
The CFTC’s grievance additionally named Wisconsin Governor Anthony Evers, Wisconsin Legal professional Common Josh Kaul and the Wisconsin Gaming Division and its administrator, John Dillett.
The Wisconsin Division of Justice, the state’s Division of Gaming and Governor Evers’ workplace had been contacted for remark.
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