CFTC sues Utah to block enforcement of gambling laws on prediction markets

The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the state of Utah to prevent the enforcement of state gambling laws targeting prediction markets, The Hill reported.

This legal action comes after a prolonged conflict between Utah and the CFTC over the state's attempts to close CFTC-registered contract markets operating within its jurisdiction.

In August, a federal judge in Utah ruled on matters related to these markets, indicating ongoing judicial involvement in the dispute.

The CFTC's lawsuit aims to uphold its regulatory authority over these markets and prevent state interference, according to The Hill.