Cointelegraph, CoinDesk, Coin Bureau, and Jacob King report federal agencies sued Illinois to block state gambling enforcement against prediction markets, escalating the jurisdiction fight over Kalshi and Polymarket style markets.
LATEST: The Trump administration has sued Illinois to block its regulation of prediction markets, arguing it interferes with federal authority, per Reuters.
JUST IN: The CFTC sues the State of Illinois to block it from regulating prediction markets, arguing federal law gives it exclusive authority over designated contract markets including @Kalshi, @Polymarket and @Cryptocom, per Reuters.
JUST IN: The CFTC and DOJ strike back against Illinois, filing a lawsuit against the state, its governor, and attorney general, accusing them of overstepping by trying to regulate prediction markets.
The Trump administration has sued Illinois to block its regulation of prediction markets, arguing it interferes with federal authority, per Reuters.
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