Louisiana Attorney General Counters CFTC Chairman’s Criticism of Prediction Market Lawsuit
TechFlow reported that on November 15, according to The Block, Louisiana Attorney General Liz Murrill refuted criticism from CFTC Chairman Michael Selig regarding the state's lawsuit against prediction markets, calling his remarks inaccurate and noting that states have regulated gambling for 250 years.
Selig previously stated that event contracts have been openly traded in the state for years while complying with federal regulations, dismissing the state government's emergency lawsuit against the industry as a political maneuver. The CFTC has sued the state, seeking to block the state court's injunction targeting prediction markets.
The report noted that the state court's temporary restraining order names 31 entities linked to Kalshi, Polymarket, and others, ordering them to restrict access for users in Louisiana; the court is scheduled to hold a hearing on the preliminary injunction request on November 30.
