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.
The filing is the latest move in a dispute over whether the prediction-market firm can offer sports-event contracts in the state.
A7962 would also restrict deposits, blackout certain ads and impose new responsible-gaming rules in the nation’s biggest wagering market.
A Siena poll found strong age and bettor-vs-non-bettor divides over ads, live commentary and the wider impact of gambling.
The Crescent Hotel and Salt opened in June, and the Grand Expo is due around Labor Day.
Judge Torres let New York keep enforcing its gambling laws for now, setting up a wider fight over event contracts.
The decision deepens a fight over prediction markets and sports-event contracts.