The operator seeks to shift the state’s licensing case to federal court and have New York gambling laws declared preempted.
The emergency ruling keeps the state action in place for now, as a Utah decision deepened the legal split over prediction markets.
The company says federal law gives the CFTC exclusive authority, while state officials warn the products amount to unlicensed gambling.
The state says the prediction market is illegal gambling. The federal regulator says it alone can police event contracts on licensed exchanges.
The state says the company ran an unlicensed gambling operation and is seeking fines, restitution and the forfeiture of alleged gains.