TechFlow reports that on February 10, Neal Kumar, Polymarket’s Chief Legal Officer, announced the company has filed a lawsuit in federal court challenging Massachusetts’ regulatory authority over prediction markets. Kumar stated that, pursuant to congressional authorization, prediction contract markets fall under the exclusive regulatory jurisdiction of the Commodity Futures Trading Commission (CFTC), not state governments. He argued that Massachusetts’ and other states’ attempts to shut down prediction markets violate federal law and forfeit critical opportunities to develop future markets.
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