Polymarket Chief Legal Officer: Filed a lawsuit against Massachusetts in federal court

Foresight News reports that Neal Kumar, Chief Legal Officer of Polymarket, tweeted that Polymarket has filed a lawsuit against Massachusetts in federal court. Kumar pointed out that the U.S. Congress has granted the Commodity Futures Trading Commission (CFTC) exclusive jurisdiction over event contracts, not the states. Prediction markets are nationwide markets, and key issues must be resolved in federal court. He believes that attempts by states like Massachusetts (MA) and Nevada (NV) to shut down Polymarket US or other prediction markets through state courts cannot change federal law, and these states will miss the opportunity to help build future markets. Kumar stated that while these important issues are being addressed in federal court, he continues to welcome dialogue with other states and is committed to fighting for the interests of users.