Federal agencies seek injunction against Rhode Island event contract restrictions

The United States and the Commodity Futures Trading Commission (CFTC) have asked a federal judge to block Rhode Island from enforcing state law against federally regulated event contracts, deepening a growing legal battle over the regulation of prediction markets. In a motion for a preliminary injunction filed Friday (May 29) in the U.S. District Court for the District of Rhode Island and reviewed by ReadWrite, the federal agencies argued that the contracts at issue fall under the Commodity Exch