CNBC
28 Jul 2026, 18:27 UTC · 3h ago
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A coalition of 44 state attorneys general formally challenged the CFTC's authority to regulate sports-related event contracts on prediction market platforms. — A successful challenge to CFTC jurisdiction would create significant regulatory uncertainty and potentially restrict the growth of the high-volume sports prediction market sector.
-0.60The CFTC is currently in litigation with nine states to defend its claim of exclusive jurisdiction over prediction markets via federal preemption. — Ongoing litigation creates systemic legal risk for platforms and exchanges until a definitive ruling or Supreme Court intervention occurs.
-0.40CME Group has formally disagreed with the CFTC's proposed definition of 'gaming,' arguing it represents a striking overreach of federal power. — Opposition from a major institutional player like CME indicates a high likelihood of continued legal friction and potential shifts in how these derivatives are classified.
-0.30Continue reading
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Recent court decisions on prediction markets are diverging, with a Michigan judge blocking Kalshi's sports bets while a Minnesota judge blocked a statewide ban. — Fragmented legal outcomes increase compliance costs and operational risk for platforms attempting to scale across multiple states.
-0.20Which stocks this story touches
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Reuters
11h ago
