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CFTC sues Kentucky over actions against prediction markets, making it first red state to face federal scrutiny
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- The Commodity Futures Trading Commission said Tuesday that it's filing suit against Kentucky.
- Kentucky is the ninth state the CFTC has sued in the agency's battle to defend what it said is its exclusive jurisdiction to regulate prediction markets.
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The Commodity Futures Trading Commission said Tuesday that it's filing suit against Kentucky. The action comes after the state sued prediction market platforms Kalshi and Polymarket, asserting the companies were operating illegal gambling platforms.
Kentucky is the ninth state the CFTC has sued in the agency's battle to defend what it said is its exclusive jurisdiction to regulate prediction markets. Front Office Sports was first to report the federal government's lawsuit on Tuesday.
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