Louisiana Attorney General Murrill criticized CFTC Chair Selig as a "flag-bearer of sycophancy" for prediction markets

Odaily reports: On Saturday, Louisiana Attorney General Murrill criticized CFTC Chair Selig as a "flag-bearer of sycophancy" for prediction markets, calling his remarks "purely false" and stating that gambling regulation has been exercised by the states for 250 years. The dispute began on Thursday when a state judge issued an ex parte temporary restraining order barring 31 entities, including Kalshi, Polymarket, Coinbase, and Robinhood, from offering sports, election, and other event contracts without state licenses, and requiring geofencing. The restraining order will expire in 10 days, with a hearing scheduled for November 30. On Friday, the CFTC sued Louisiana, asking the court to declare that state gambling laws do not apply to the markets it regulates; this is the 12th state the CFTC has sued. Selig previously called the state's emergency lawsuit "naked lawfare." Kalshi has suspended its services in Louisiana; the CFTC and the U.S. Department of Justice separately sued Arkansas on Thursday.