The U.S. CFTC and the Department of Justice sue the Illinois state government, alleging that it has improperly regulated prediction markets

GateNews

2026-04-02 15:31:40

Gate News update: On April 2, according to market sources, the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ) filed a lawsuit against Illinois, its governor, and the attorney general, alleging that they attempted to regulate prediction markets beyond their legal authority. The two federal agencies said the relevant regulatory measures in Illinois are ineffective because the state government does not have jurisdiction over federally regulated prediction markets. The complaint documents emphasized that the move is intended to protect innovative financial instruments from overreach by local governments.

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