CFTC sues Kentucky over prediction market regulatory authority, making it the ninth state sued

PA一线
PA一线
PANews, June 24 – According to The Block, the U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the state of Kentucky to assert federal regulatory primacy over prediction markets. The move follows Kentucky’s lawsuit last week against platforms such as Kalshi and Polymarket, accusing them of illegally operating sports betting and gambling services without a state license. In its complaint filed with the U.S. District Court for the Eastern District of Kentucky, the CFTC argued that the state’s attempt to shut down a federally regulated designated contract market infringes on the exclusive federal framework designed by Congress to regulate the national swaps market. The CFTC also criticized Kentucky’s legislation imposing a 14.25% tax on prediction market transaction fees, stating that the provision “effectively makes it impossible for prediction markets to operate in the state.” Kentucky becomes the ninth state sued by the CFTC, following similar lawsuits against Wisconsin, Illinois, Arizona, Connecticut, New York, New Mexico, Minnesota, and Rhode Island.
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