CFTC Sues Kentucky to Prevent Violation of CFTC’s Exclusive Jurisdiction

The CFTC filed a lawsuit against the Commonwealth of Kentucky seeking to block the state's efforts to shut down CFTC-registered contract markets and to prevent enforcement actions and a special transaction fee aimed at those designated contract markets. The complaint alleges Kentucky's actions conflict with the CFTC's exclusive federal jurisdiction over prediction markets; the release notes related CFTC proceedings in Minnesota, Illinois, and Rhode Island and amicus briefs filed in several courts.