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📰 【CFTC Sues New York, Prediction Market Battle Escalates】
The U.S. Commodity Futures Trading Commission (CFTC) has sued New York State over prediction markets, following the state's previous lawsuits against Coinbase and Gemini, further escalating the conflict between federal and state authorities over event contracts. The controversy centers on...
CFTC sues New York State, prediction market war intensifies. Essentially, this mess is about regulators fighting over "who's the boss." Coinbase and Gemini were targeted by New York State, now the CFTC is turning around and suing the state government—typical bureaucratic infighting with no real value to the market.