The Commodity Futures Trading Commission has sued New Mexico in a dispute over how sports-related prediction markets are regulated.
The suit, filed in the US District Court for the District of New Mexico on 12 June 12, names New Mexico Gov. Michelle Lujan Grisham, Attorney General Raúl Torrez, and other state officials as defendants.
The federal regulator is trying to stop New Mexico from applying state gaming laws to prediction market operators that are regulated at the federal level. The move comes after New Mexico alleged that the prediction market company Kalshi was offering sports betting to New Mexico residents without a license.
