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States vs Federal Power in Prediction Markets | Reno News
Nevada’s Attorney General Aaron Ford is leading a defiant charge against federal regulators, sending a letter to the CFTC arguing that states—not the feds—should control prediction markets tied to sports. The move comes after Kalshi pulled out of Nevada, citing federal overreach. Ford and a coalition of state AGs claim the CFTC is overstepping constitutional boundaries and undermining decades of state authority over gambling, including sports betting. With the CFTC’s rulemaking still open for public comment, this is a clear warning shot: states are ready to fight back against what they see as…
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