Polymarket Takes Ohio to Federal Court, Citing New CFTC Rules After Kalshi’s Appeals Loss
By Unchained
AI summary of the source article
Polymarket US has filed a federal lawsuit against Ohio's attorney general and casino regulators. The exchange challenges a state cease-and-desist order over sports event contracts, arguing that recent CFTC rulemaking establishes exclusive federal authority.
Key facts
- Polymarket US sued Ohio officials in federal court on Oct. 16 after receiving an Oct. 2 cease-and-desist letter over unlicensed sports event contracts.
- The complaint argues that the Commodity Exchange Act gives the CFTC exclusive authority over event contracts on federally designated exchanges.
- Polymarket cited two Oct. 9 CFTC actions to argue that an earlier September Sixth Circuit ruling against Kalshi was decided under a different legal landscape.
Source excerpt · Unchained
Polymarket US filed suit on the day Ohio's compliance deadline ran out, arguing that the CFTC's Oct. 9 rulemaking and the Commerce Clause put its sports contracts beyond the state's reach. The post Polymarket Takes Ohio to Federal Court, Citing New CFTC Rules After Kalshi’s Appeals Loss appeared first on Unchained .