According to CNBC, attorneys general from 44 U.S. states sent a joint letter to the Commodity Futures Trading Commission (CFTC) on Monday, stating that the agency does not have the authority to regulate sports-related event contracts. As the public comment period for the CFTC's first proposed rule on prediction market regulation comes to an end, the coalition, led by Ohio Attorney General Andy Wilson, argued that the proposed rule exceeds the CFTC's statutory powers and conflicts with the Constitution. They believe that sports betting and gambling should not be traded on Designated Contract Markets (DCM) but should instead be governed by state laws. Currently, the CFTC and states are locked in a heated jurisdictional battle over prediction markets, with the CFTC previously engaging in lawsuits with nine states on this matter. Industry experts widely speculate that the dispute may ultimately require a ruling from the U.S. Supreme Court. https://www.(wublock123.com)/news/news-65518