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CFTC and DOJ File April 2 Lawsuits Against Arizona, Connecticut, and Illinois Over Prediction Markets
On April 2, the CFTC and the U.S. Department of Justice filed three lawsuits against Arizona, Connecticut, and Illinois to defend what they describe as exclusive federal authority over prediction markets and event contracts. The agencies argue that state actions impose inconsistent obligations on CFTC-registered designated contract markets and increase uncertainty for participants operating across jurisdictions.