New Mexico is the eighth state sued by the CFTC over prediction markets, as Gary Gensler doubted the regulators' claim of authority over sports event contracts. New Mexico is the latest US state to be pulled into the Commodity Futures Trading Commission’s legal fight for its jurisdiction over prediction markets after the state sued Kalshi for allegedly offering illegal sports betting. The CFTC said on Friday that it sued New Mexico Governor Michelle Lujan Grisham, state Attorney General Raúl Torrez, and members of the New Mexico Gaming Control Board in federal court “to block the state’s efforts to apply state gaming laws against CFTC-registered contract markets.” New Mexico sued Kalshi on June 4, arguing the company is offering sports betting to residents without a license and that its sports event contracts function the same as traditional sports bets. Read more
The Aztec Connect platform was deprecated in March 2023, but the immutable smart contract still held over $2 million in crypto assets. Aztec Connect, a deprecated decentralized finance platform, was drained of around $2.1 million in crypto on Sunday after an attacker exploited its verification function. Aztec Labs posted to X on Sunday that it was “investigating a potential exploit affecting Aztec Connect,” adding that around $2.1 million was transferred from the platform’s smart contract, which did not affect users or assets on the current Aztec network. The exploit is the latest in the $44 million worth of crypto that has been stolen so far this month from at least 12 other exploits, according to DeFiLlama. Read more