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New York says prediction markets are unlicensed gambling while the CFTC claims federal jurisdiction and no final ruling has been issued, NY.bet reports
- New York says prediction markets are unlicensed gambling while the CFTC claims federal jurisdiction and no final ruling has been issued, NY.bet reports — New York's position is that sports, election and similar event contracts are unlicensed gambling under state law, while the Commodity Futures Trading Commission says the contracts are derivatives on federally registered exchanges that only it can regulate. As of mid-October 2026 no court has issued a final ruling on New York, the apps remain in court on several fronts, and the state is seeking billions in penalties. (NY.bet)
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