CFTC Sues Louisiana, Challenges Prediction Market Ban
TechFlow reports, on November 14, according to an announcement by the U.S. Commodity Futures Trading Commission (CFTC), the agency has sued the state of Louisiana, seeking to prevent it from banning CFTC-regulated exchanges and other institutions from offering event contracts.The CFTC stated that the Louisiana state court previously issued an order halting the operations of more than 30 companies within the state involved in CFTC-regulated derivative trading, without notifying the defendants or providing them an opportunity to be heard. The agency noted that Louisiana is the twelfth state it has sued to uphold its exclusive jurisdiction over derivatives markets.
TechFlow reports, on November 14, according to an announcement by the U.S. Commodity Futures Trading Commission (CFTC), the agency has sued the state of Louisiana, seeking to prevent it from banning CFTC-regulated exchanges and other institutions from offering event contracts.
The CFTC stated that the Louisiana state court previously issued an order halting the operations of more than 30 companies within the state involved in CFTC-regulated derivative trading, without notifying the defendants or providing them an opportunity to be heard. The agency noted that Louisiana is the twelfth state it has sued to uphold its exclusive jurisdiction over derivatives markets.
