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US CFTC sues three states over authority to oversee prediction markets

By Neil Roland ( April 3, 2026, 18:10 GMT | Insight) -- The US Commodity Futures Trading Commission sued three states over what the agency described as its exclusive authority to oversee booming prediction markets such as Kalshi and Polymarket. The CFTC, led by Chair Michael Selig, has described these markets as derivatives, while the defendants — Arizona, Connecticut and Illinois — have classified them as markets for gambling over events ranging from sports to elections.The US Commodity Futures Trading Commission sued three states over what the agency described as its exclusive authority to oversee booming prediction markets such as Kalshi and Polymarket....

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