CFTC sues Illinois over state's cease-and-desist letters against prediction markets
Burns Brief
The CFTC argued in a lawsuit that the Commodity Exchange Act gave it "exclusive jurisdiction" over all swaps, which include prediction markets Market sentiment is turning positive, with traders and analysts pointing to potential follow-through momentum in the coming sessions. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.
The CFTC argued in a lawsuit that the Commodity Exchange Act gave it "exclusive jurisdiction" over all swaps, which include prediction markets.
Key Takeaways
- The CFTC argued in a lawsuit that the Commodity Exchange Act gave it "exclusive jurisdiction" over all swaps, which include prediction markets