CFTC sues New Mexico in latest bid to assert authority over sports betting markets

<p class="p1"><span class="s1">New Mexico is the next state in the Commodity Futures Trading Commission's crosshairs after the state sued predictions market Kalshi for illegally offering sports betting to its residents. </span></p>

<p class="p1"><span class="s1">On Friday, the CFTC filed a lawsuit in the U.S.

District Court for the District of New Mexico against Gov.

Michelle Lujan Grisham, Attorney General Raúl Torrez and other officials to block their efforts to apply gaming laws.

This marks the CFTC's latest move to assert its jurisdiction over prediction markets, specifically sports betting, as the fight continues over whether states or the federal government has jurisdiction over those contracts.</span></p>