CFTC pulls Wisconsin into fight over prediction market jurisdiction
The US Commodity Futures Trading Commission on Tuesday sued the state of Wisconsin in the agencys latest effort to assert jurisdiction over prediction markets after the state sued multiple platforms. The CFTC said in a statement that it filed the lawsuit against Wisconsin “in response to the states lawsuits against Kalshi, Polymarket, Crypto.com, Robinhood, and Coinbase, five CFTC-regulated prediction markets.” “States cannot circumvent the clear directive of Congress,” CFTC Chairman Michael Selig said. “Our message to Wisconsin is the same as to New York, Arizona, and others: if you interfere with the operation of federal law in regulating financial markets, we will sue you.” It is the agencys fifth lawsuit against a US state that seeks to halt action against prediction markets. The CFTC sued New York on Friday and filed lawsuits against Arizona, Connecticut, and Illinois earlier this month after the states sued prediction market platforms. Michael Selig speaking on stage at Bitcoin 2026 in Las Vegas on Monday. Source: YouTube Wisconsin sued the five companies on Thursday, and like many US state authorities, argued that prediction markets offering sports-related event contracts are illegal betting that requires state gaming licenses. It is an assertion the platforms and the CFTC have rebuffed in the past, arguing