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

Odaily News: Polymarket CLO Neal Kumar posted on the X platform, stating that a lawsuit has been filed against Massachusetts in federal court. The U.S. Congress granted the CFTC, not individual states, exclusive jurisdiction over event contracts. These are national markets, and critical issues must be resolved in federal court. Attempts by states like Massachusetts and Nevada to shut down Polymarket US and other prediction markets through state courts cannot override federal law and will miss the opportunity to pioneer future markets. While these significant issues are being adjudicated in federal court, Neal Kumar expressed continued willingness to engage in dialogue with other states and to fight for user rights.

Previous news: In January, a Massachusetts judge ruled to prohibit Kalshi from offering sports betting services in the state.