US CFTC sues Arizona, Connecticut over prediction markets

The U.S. Commodity Futures Trading Commission (CFTC) has filed lawsuits against Arizona and Connecticut over prediction markets, expanding on a similar action previously taken against Illinois. The agency announced on its official website that the lawsuits against the three states are intended to reaffirm its exclusive jurisdiction over these markets. CFTC Chairman Michael Selig stated that the commission will protect its exclusive regulatory authority and shield market participants from overzealous state regulators.