CFTC sues New York over prediction market crackdown as 38 AGs back Massachusetts' Kalshi case
CFTC sues New York over prediction market crackdown as 38 AGs back Massachusetts' Kalshi case
New York Attorney General Letitia James joined 37 other attorneys general Friday in an amicus brief backing Massachusetts’ lawsuit against Kalshi at the state’s highest court.Hours later, the Commodity Futures Trading Commission sued New York in Manhattan federal court, arguing state enforcement actions against prediction market operators are preempted by federal law.The dueling actions mark the fourth state the CFTC has sued in three weeks and come three days after James filed her own suits against Coinbase and Gemini.