The Commodity Futures Trading Commission (CFTC) failed in its initial attempt to block Wisconsin’s efforts to shut down prediction market platforms in the state.
The CFTC sued Wisconsin Gov. Tony Evers, Attorney General Josh Kaul, and the state’s gaming regulator in federal court in late April. The commission filed that suit just days after state officials warned that the platforms could violate state law.
However, U.S. District Judge William Conley denied the CFTC’s request for a preliminary injunction. Conley stated that the case brought by the commission 'makes no sense' and that the CFTC had not shown a likelihood of success on the merits.
