The US CFTC and Department of Justice sue Illinois governor and attorney general, accusing them of lacking authority to regulate prediction markets.

Golden Finance reports that on April 3, according to market sources: the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ) have filed a lawsuit against the governor and the attorney general of Illinois, accusing them of attempting to regulate prediction markets beyond their legal authority. Both agencies said the relevant regulatory measures in Illinois are ineffective because the state government does not have jurisdiction over federally regulated prediction markets. The lawsuit emphasizes protecting innovative financial instruments from unlawful interference by local governments.

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