Trump administration sues three states over attempts to regulate prediction markets

The suits are the most ambitious effort to date that the Trump administration has gone to try to override state laws and set the rules for the fast-growing and increasingly divisive betting industry.

The Trump administration on Thursday filed lawsuits against three states, arguing that the controversial prediction market industry should be solely regulated by the federal government, not by state gambling commissions.

The trio of legal actions against Illinois, Connecticut and Arizona is the furthest Trump officials have gone to try to override state laws and set the rules for a fast-growing industry that has run headlong into thorny questions about insider trading and profiting off war and suffering.