Polymarket Tells Massachusetts “Hands Off!” in Federal Court Battle ⚔️
#Polymarket ’s chief lawyer, Neal Kumar, just announced the company is suing Massachusetts in federal court. Their argument is simple: prediction markets (like betting on election results or big events) should be regulated only by the federal CFTC, not by individual states. Congress already gave the #CFTC that power, so states trying to shut these platforms down are breaking the rules and missing a huge chance to build cool new “markets of the future.”
I’m totally on Polymarket’s side here. These platforms are actually pretty awesome — they often predict stuff more accurately than polls because real money is on the line. Having every state make its own messy rules would be a nightmare for users and innovation. Massachusetts seems worried about it turning into unregulated gambling, which is fair, but going federal could create clearer, safer rules that let this tech grow properly. Good on them for pushing back instead of just rolling over. This could be a big moment for the whole industry.
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