The Commodity Futures Trading Commission (CFTC) obtained a temporary restraining order from the US District Court for the District of Arizona that bars Arizona from continuing to pursue criminal charges against CFTC-regulated designated contract markets (DCMs), pending further proceedings. The order follows the CFTC’s complaint seeking an injunction to stop Arizona from attempting to preempt federal law. The CFTC is also seeking declaratory judgments that federal law gives it “exclusive authority” to regulate event contracts and permanent injunctions preventing states from enforcing preempted state laws against DCMs, including through complaints filed against Arizona, Connecticut, and Illinois. In Arizona, the agency also moved for a temporary restraining order and preliminary injunction to prevent enforcement of the challenged state laws; the court has now granted the temporary restraining order.

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