Latest
Checked Oct. 21, 2026
United States v. state
U.S. District Court for the Southern District of New York, 1:26-cv-03404
Pending
Before Judge Lorna G. Schofield (the related cases were reassigned from Judge Victor Marrero in August 2026). The preliminary-injunction motion was argued on Sept. 14, 2026 and remained undecided as of Oct. 21, 2026. On Oct. 13, 2026 the court (ECF 177) let the federal plaintiffs file short supplemental notices on the CFTC's Oct. 9, 2026 rulemakings by Oct. 16, 2026 and allowed optional responses by Oct. 23, 2026. An earlier emergency TRO request was denied without prejudice in late July/early August 2026.
The question
Whether the CEA preempts New York law as applied to event contracts on CFTC-registered exchanges, so that the state may be enjoined from enforcing it against them.
The CFTC and the United States sued New York over its cease-and-desist letters and civil enforcement petitions against CFTC-registered exchanges. A request for a temporary restraining order was denied in summer 2026; the preliminary-injunction motion has been argued but not decided. Coinbase and Gemini sought to intervene.
Next: New York's optional reply on the CFTC's new rules due Oct. 231 day
Argued Sept. 14Oct. 23
Resolves Yes if the court grants the federal government's preliminary injunction motion in United States v. New York, in whole or in part. No if it denies it.
S.D.N.Y. No. 1:26-cv-03404. Source: DeFi Rate tracker
Order permitting supplemental notices on the CFTC's new rulemakings; PI still pending.
Source: defirate.com
Judge Schofield permitted supplemental notices on the CFTC's Oct. 9, 2026 rules (plaintiffs by Oct. 16, 2026; New York may respond by Oct. 23, 2026).
Source: defirate.com
Preliminary-injunction argument.
Source: defirate.com
The court heard argument on the federal plaintiffs' preliminary-injunction motion.
Source: defirate.com
Judge Schofield, now presiding over the related New York cases, sets the PI hearing for Sept. 14, 2026.
Source: dockets.justia.com
Governor Hochul voluntarily dismissed as a defendant.
Source: dockets.justia.com
New York opposes the preliminary-injunction motion.
Source: dockets.justia.com
Accepted as related to New York's removed petition against Coinbase (No. 1:26-cv-03300).
Source: dockets.justia.com
Complaint filed.
Source: cftc.gov