CFTC sues Wisconsin over state action against prediction markets

13 articles · Updated · Reuters · Apr 28

The U.S. Commodity Futures Trading Commission filed suit against Wisconsin after the state targeted Kalshi, Polymarket, Crypto.com, Robinhood, and Coinbase with lawsuits.
The federal lawsuit marks an escalation in the regulatory dispute over the legality and oversight of prediction markets operating in Wisconsin.
This legal confrontation could set important precedents for how prediction markets are regulated at both state and federal levels in the United States.

Could state lawsuits ultimately shut down platforms like Kalshi and Polymarket nationwide?

Why is the CFTC protecting markets that many states call criminal operations?

Are new platform rules enough to stop insider trading on prediction markets?

How much tax revenue are states losing to these federally regulated platforms?

What truly separates a legal 'event contract' from an illegal sports bet?