The claim
“A federal commission on Thursday announced lawsuits against three states over its ability to exclusively regulate prediction markets.”
Our verdict
True
The CFTC's press release and CNBC reporting both confirm that the Commission announced lawsuits against Arizona, Connecticut, and Illinois to assert its exclusive authority over prediction markets.
What we found
No contradictory evidence was found.
The evidence
2 sources, all background: none settles the claim either way.
- Background
The CFTC press release states it filed lawsuits challenging the actions of Arizona, Connecticut, and Illinois against CFTC-registered designated contract markets, reaffirming its exclusive jurisdiction.
cftc.gov· CFTC press release announcing lawsuits - Background
The release notes that Congress granted the CFTC sole authority to regulate event contracts under the Commodity Exchange Act, and that state attempts to impose inconsistent rules undermine consumer protection.
cftc.gov· Context on exclusive jurisdiction
How we checked
We reviewed 2 relevant sources.
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