Louisiana Attorney General Rebuts CFTC Chair's Criticism of Prediction Market Lawsuit

Louisiana Attorney General Liz Murrill pushed back on CFTC Chairman Michael Selig’s criticism of the state’s lawsuit against prediction markets, arguing that gambling has been state-regulated for 250 years and that Selig’s characterization is inaccurate. Selig had said event contracts have traded openly in the state for years under federal rules and called the state’s emergency suit against the industry politically motivated. The CFTC has sued Louisiana to block a state court injunction affecting prediction markets. The state court’s temporary restraining order covers 31 entities tied to platforms including Kalshi and Polymarket, requiring them to limit access for Louisiana users. A hearing on the preliminary injunction request is scheduled for November 30. The dispute matters because it tests whether federal event-contract oversight preempts state gambling law, with the November 30 hearing the next key marker.