A federal judge in New York rejected sports prediction market Novig's request for a preliminary injunction, ruling that its event contracts are not “swaps” under the Commodity Exchange Act and that New York gambling and sports betting laws may apply to its activities. According to Odaily, gambling attorney Daniel Wallach said state regulators may soon move from defending their enforcement authority in federal court to exercising it in state court, which he described as a possible next chapter in litigation over sports prediction markets.