NewzOn Thursday, New York filed a lawsuit against the prediction market platform Polymarket, seeking a judicial order to block the company from operating within the state. The legal action characterizes the platform as an unlicensed gambling operation that poses risks to local residents.
In response to state-level enforcement efforts, prediction market platforms have argued that individual states lack the legal authority to govern them. The industry contends that these platforms are already subject to federal oversight by the U.S. Commodity Futures Trading Commission.
This legal challenge is part of a broader trend of state authorities attempting to regulate or restrict prediction markets operating within their jurisdictions.
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