New York State Attorney General Letitia James has joined a bipartisan initiative of 37 other attorneys general. They are urging the Massachusetts Supreme Court to support a preliminary injunction against Kalshi. Following this, the CFTC filed a lawsuit against New York. The agency's chairman, Michael Selig, continues to assert their exclusive right to regulate prediction markets. The regulator demands that New York be prohibited from applying state laws against organizations registered with the CFTC. The Wisconsin Department of Justice has also sued companies such as Kalshi, Robinhood, Coinbase, Polymarket, and Crypto.com. They claim that these companies offer event contracts that function identically to traditional sports betting. Prediction markets charge fees and hold funds for profit.