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The Commodity Futures Trading Commission (CFTC) agrees, continuing to defend its claimed “exclusive jurisdiction” over sports prediction markets in federal and state courts across the nation.
The legal wrangling extends to Michigan, where Attorney General Dana Nessel has rejected Polymarket and the CFTC’s arguments that the Michigan Gaming Control Board has no regulatory authority over prediction markets, even the ones allowing traders to buy and sell shares of sports outcomes.
Since returning its prediction market to the US, Polymarket has regularly engaged in nonconforming advertising. Painting a water tower in the company’s blue and branding the structure with its logo is the firm’s latest marketing ploy.
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The ruling preserved a revenue measure the city says was designed to bring in up to €1 million according to the court’s own summary.
Andreas Braun, owner of four arcades in Wiesbaden, filed an objection and constitutional complaint against the tax rate in April last year according to local reporting. He argued that the tax rise had provided a ‘strangling’ effect to business and that it consumed operator profits.
According to a high court ruling from over a decade ago, the tax rise cannot be allowed to rise to the point of ‘consuming livelihoods’.
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The Commerce Department has jurisdiction over the USPTO, meaning Lutnick is the boss of the USPTO Director John Squires. Squires, who became 60th director of the USPTO a year ago, has been publicly effusive in his praise of Lutnick.
More relevant to DraftKings is the fact that under his leadership, the patent office has moved to significantly limit access to the Patent Trial and Appeal Board (PTAB) – the very board to which the gaming company is appealing in an effort to have the Cantor patent annulled.
Both Squires and his predecessor, Coke Morgan Stewart, made it harder for filers to get in front of the PTAB, typically citing patent ages or court rulings.
