US CFTC sues Wisconsin over prediction market jurisdiction

The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the state of Wisconsin, alleging infringement on its jurisdiction over prediction markets, the Watcher.Guru X account reported. Previously, Wisconsin sued prediction market operators such as Kalshi, Coinbase, Polymarket, Robinhood, and Crypto.com, arguing that their event contracts constitute gambling rather than investment products.