Polymarket has filed a lawsuit in federal court against Massachusetts. It argues the state government does not have the authority to regulate a CFTC-approved prediction market.
Cointelegraph reported on Feb. 10 that Polymarket chief legal officer Neil Kumar (닐 쿠마르) said prediction markets should be handled at the federal level. He also formalised legal action to block state government intervention.
Polymarket said legal action by Massachusetts Attorney General Andrea Campbell infringes federal regulation, and filed the lawsuit pre-emptively to block state intervention. Nevada has also recently blocked Polymarket sports contracts, taking steps to protect its sports betting regulatory framework.
Prediction market platforms such as Polymarket and Kalshi have been growing rapidly in recent months. Legal disputes are also spreading as eight state governments, including New York, Illinois and Ohio, move to regulate sports prediction markets.
Chi-gyu Hwang
delight@d-today.co.kr