Polymarket Chief Legal Officer: Has Filed a Lawsuit Against Massachusetts in Federal Court

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