New York · Donald Trump · The Block
CFTC sues New Mexico in latest bid to assert authority over sports betting markets
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New Mexico is the next state in the Commodity Futures Trading Commission's crosshairs after the state sued predictions market Kalshi for illegally offering sports betting to its residents.
Key facts
- On Friday, the CFTC filed a lawsuit in the U.S. District Court for the District of New Mexico against Gov
- Michelle Lujan Grisham, Attorney General Raúl Torrez and other officials to block their efforts to apply gaming laws
- Last week, New Mexico charged Kalshi and said the platform had not obtained a license and also allowed people to participate before its legal age, set at 21 years old
- The United States and the Commission are injured by New Mexico’s enforcement efforts," the agency said
Summary
On Friday, the CFTC filed a lawsuit in the U.S. District Court for the District of New Mexico against Gov. Last week, New Mexico charged Kalshi and said the platform had not obtained a license and also allowed people to participate before its legal age, set at 21 years old. Over the past few months, the CFTC has sued several states to assert its jurisdiction over sports betting, including Wisconsin, Illinois, Arizona, Connecticut and New York. "New Mexico is the latest state seeking to nullify black letter law and decades of judicial precedent by imposing state gaming laws on federally regulated derivatives exchanges subject to the CFTC’s exclusive jurisdiction," Selig said in a statement.