CryptoWorld News reports that, according to Cointelegraph, the Commodity Futures Trading Commission (CFTC) has filed a lawsuit in New York, seeking to prevent the state from enforcing gambling laws on prediction platforms. The CFTC argues that federal regulators have the only regulatory authority over event-based contracts. In the complaint filed by the CFTC in the Southern District of New York, the agency states that federal law grants it exclusive jurisdiction over these markets. The CFTC is asking the court for a declaratory judgment and a permanent injunction against New York’s enforcement actions. CFTC Chairman Michael Selig said that registered CFTC exchanges face numerous state-level lawsuits attempting to limit Americans’ access to event contracts and weaken the CFTC’s sole regulatory authority over prediction markets.