[CFTC Sues New Mexico to Defend Federal Exclusive Jurisdiction Over Prediction Markets]
According to Cointelegraph, the CFTC filed a federal lawsuit on June 13 against the Governor of New Mexico, the Attorney General, and members of the Gaming Control Board, seeking to prevent the state from applying state gaming laws to CFTC-registered contract markets. On June 4, New Mexico sued Kalshi, accusing it of offering sports betting services without authorization and allowing users aged 18 to 20 to access the platform. The CFTC argues that event contracts fall under swaps regulated by federal commodity law, granting the CFTC exclusive jurisdiction over related contract markets. New Mexico is the eighth state sued by the CFTC over jurisdictional disputes concerning prediction markets.
