44 state attorneys general challenge CFTC's authority over sports prediction markets in coordinated letter.
Regulation & Gov ·
A coalition of 44 state attorneys general sent a letter to the CFTC contesting the agency's regulatory authority over sports prediction markets. The group called on the CFTC to develop new rules aligned with the Commodity Exchange Act rather than expanding its jurisdiction into this area.
The letter represents a coordinated challenge to the CFTC's interpretation of its powers under existing commodity regulation frameworks. State attorneys general have framed the question as one of jurisdictional boundaries, asserting that sports prediction markets fall outside the CFTC's current legal mandate.
What remains unclear is whether the CFTC will formally respond to the coalition's position, what specific rule changes the attorneys general expect, or how the agency plans to proceed with any pending enforcement or regulatory actions in this space.