Atlantic City casinos and 44 state attorneys general have asked the CFTC to drop its proposed rule to solidify sports trading on prediction markets. (Image: Shutterstock)The CFTC’s public comment period regarding its proposed rule amendment concerning event contract derivatives concluded on July 27. “The CFTC in the Proposed Rule goes well beyond its statutory authority. And no clear statutory text from the CEA provides the CFTC such authority,” said the attorneys general. “The Proposed Rule goes beyond the CFTC’s statutory powers, is in tension with the Constitution, and would otherwise be arbitrary and capricious in its current form.”