Polymarket is challenging Massachusetts in federal court, arguing that states lack the authority to regulate CFTC-approved prediction markets.Polymarket has filedPolymarket is challenging Massachusetts in federal court, arguing that states lack the authority to regulate CFTC-approved prediction markets.Polymarket has filed
Polymarket sues Massachusetts, claims states can’t regulate prediction markets
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Polymarket is challenging Massachusetts in federal court, arguing that states lack the authority to regulate CFTC-approved prediction markets.
Polymarket has filed a federal lawsuit against the state of Massachusetts, arguing that Congress granted the Commodity Futures Trading Commission (CFTC) exclusive authority over event contracts, preventing states from independently shutting down federally regulated prediction markets.
Neal Kumar, Polymarket’s chief legal officer, confirmed the lawsuit on Monday, saying the dispute involves national markets and unresolved legal questions that must be addressed at the federal, not state, level.
“Racing to state court to try to shut down Polymarket US and other prediction markets doesn’t change federal law — and states like MA and NV that have done so will miss an amazing opportunity to help build markets for tomorrow,” Kumar said, referring to Massachusetts and Nevada.
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