Judge Calls CFTC’s Swap Rules ‘Inherently Contradictory’ as Novig Loses Bid to Block New York

Judge Colleen McMahon refused to defer to the CFTC, calling its October swap rules 'inherently contradictory.' She ruled at the preliminary-injunction stage that New York can require a state gambling license for Novig's sports event contracts, denying Novig's bid to block enforcement.