TechFlow News: On April 27, according to The Wall Street Journal, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against New York State in the U.S. District Court for the Southern District of New York, seeking a court ruling that the CFTC holds exclusive regulatory authority over prediction markets to halt New York State’s enforcement actions. Previously, New York State had filed lawsuits against cryptocurrency exchanges Coinbase and Gemini regarding their prediction market operations. Earlier this month, the CFTC also filed similar lawsuits against Arizona, Illinois, and Connecticut, intensifying jurisdictional disputes between federal and state regulatory agencies.
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