CFTC sues Rhode Island over actions against prediction markets

Feds jump in after battle over prediction market regulation hits Rhode Island

A laptop displays Kalshi’s homepage featuring prediction odds on the winner of the men’s French Open. (Photo by Christopher Shea/Rhode Island Current) Add the federal agency overseeing prediction markets to the list of antagonists seeking to supersede the state of Rhode Island’s authority to regulate online platforms that allow wagering on everything from politics to sports. The Commodity Futures Trading Commission (CFTC) on Thursday moved to in…

STOCK MARKET: CFTC sues Rhode Island over actions against prediction markets

Screens displaying the logo and homepage of prediction market platform Polymarket in Saint-Mande, east of Paris, April 29, 2026. Martin Lelievre | Afp | Getty Images The Commodity Futures Trading Commission announced on Thursday that it was suing Rhode Island, one week after the state took action against two prediction market platforms.  It marks the seventh state the CFTC has sued in a dispute over who has the authority to regulate prediction m…

CFTC sues Rhode Island over actions against prediction markets

It marks the seventh state the commission has sued in a dispute over who has the right to regulate event contract platforms.

Rhode Island, CFTC In Legal Battle Over Prediction Markets

The state of Rhode Island filed a lawsuit against prediction market operators Polymarket and Kalshi in an attempt to make them follow state sports betting laws. The CFTC decided to countersue in response, claiming that there is no legal basis for the state to force the operators to follow such laws. PROVIDENCE, R.I. – Lawsuits continue to pile up when it comes to prediction markets, as the Commodity Futures Trading Commission (CFTC) is now suing…

CFTC Sues Rhode Island to Block Prediction Market Lawsuits

CFTC sues Rhode Island to

CFTC moves into Rhode Island fight over prediction market authority

Federal regulators are stepping into an escalating court battle over prediction markets, backing Kalshi’s challenge to Rhode Island’s attempt to block sports-related event contracts. On Thursday (May 28), the Commodity Futures Trading Commission and the United States asked to intervene in a case pending in the U.S. District Court for the District of Rhode Island. The filing focuses on what federal officials describe as a jurisdictional conflict …