The Trump administration ​sued Arizona, Connecticut and Illinois on Thursday, to stop what it called their unlawful efforts to ‌regulate prediction markets because they may violate state gambling laws.

Attempts by states to shut down efforts by companies such as Kalshi, Polymarket, Crypto.com and Robinhood (HOOD.O), to provide “event contracts” violated the Commodity Futures Trading Commission’s exclusive authority to regulate national swaps markets, the government said.