Cointelegraph reported that the U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against New York State to prevent it from applying gambling laws to prediction market platforms. Previously, New York authorities had sued Coinbase (COIN) and Gemini (GEMI) for violating gambling laws with their prediction market subsidiaries. CFTC Chairman Michael Selick argues that jurisdiction over prediction markets belongs to the CFTC, a federal agency, not state governments.
