The US CFTC sues New York, accusing the state of invading its authority to regulate prediction markets by filing lawsuits against Coinbase and Gemini

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TLDR

  • The CFTC sued New York on Friday, claiming the state overstepped federal authority by suing Coinbase and Gemini over prediction markets.

Key Facts

  • The U.S. Commodity Futures Trading Commission filed suit against New York state on Friday.
  • The CFTC accused New York of invading its exclusive authority to regulate prediction markets.
  • New York had previously filed lawsuits against Coinbase and Gemini tied to prediction market activity.

Why It Matters

  • The case sets up a direct federal-state conflict over which regulator has jurisdiction over prediction markets.
  • The outcome could determine whether states can impose their own oversight on federally regulated derivatives markets.

Jonathan Stempel / Reuters · 2026-04-24 · Read the original