PANews, June 13: According to The Block, the U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit in the U.S. District Court for the District of New Mexico against Governor Michelle Lujan Grisham, Attorney General Raúl Torrez, and other officials, seeking to block them from enforcing gambling laws. Over the past several months, the CFTC has sued multiple states to assert its jurisdiction over sports betting, including Wisconsin, Illinois, Arizona, Connecticut, and New York. CFTC Chair Michael Selig has been working to strengthen the agency’s oversight of prediction markets. Last week, the agency also proposed a broad rulemaking initiative that would still permit overall support for sports betting. Meanwhile, states assert that they have jurisdiction over sports betting.
U.S. CFTC Sues New Mexico Officials Over Sports Betting Law
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Summary
The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit in the U.S. District Court for New Mexico against Governor Michelle Lujan Grisham, Attorney General Raúl Torrez, and other officials regarding the state’s sports betting law. The CFTC has also sued several other states in recent months, including Wisconsin and Illinois, to assert its jurisdiction. CFTC Chair Michael Selig is advocating for expanded oversight of prediction markets. As the legal battle progresses, traders are closely monitoring altcoins for signs of shifting market sentiment. The Fear & Greed Index remains a key indicator amid rising regulatory pressures.
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