CFTC Files Amicus Brief Defending Exclusive Jurisdiction Over Prediction Markets

The Commodity Futures Trading Commission (CFTC) filed an amicus brief Tuesday (May 12) reaffirming its exclusive jurisdiction over prediction markets. The CFTC filed the brief in the court battle between prediction market Kalshi and the state of Ohio, according to a Tuesday press release from the CFTC. The filing outlines the regulatory scheme designed by Congress and details how that scheme preempts state laws as applied to markets regulated by the CFTC, according to the release.