Case 2:25-cv-01541-JCM-DJA Document 1 Filed 08/19/25 Page 24 of 26
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72. There is an imminent likelihood that Defendants will violate the Supremacy Clause. To prevent irreparable harm, Robinhood seeks declaratory and injunctive relief restraining Defendants from enforcing Nevada law to the extent it purports to regulate Robinhood’s offering of sports-related event contracts traded on a DCM. COUNT I (Supremacy Clause – Preemption By Commodity Exchange Act) 73. Robinhood restates, re-alleges, and incorporates by reference each of the allegations set forth in the rest of this Complaint as if fully set forth herein. 74. The Supremacy Clause, Article VI, Section 2, of the U.S. Constitution provides: This Constitution, and the Laws of the United States which shall be made in Pursuance thereof; and all Treaties made, or which shall be made, under the Authority of the United States, shall be the supreme Law of the Land; and the Judges in every State shall be bound thereby, any Thing in the Constitution or Laws of any State to the Contrary notwithstanding. 75. The Supremacy Clause mandates that federal law preempt state law in any field over which Congress has expressly or impliedly reserved exclusive authority to the federal government and to the extent state law conflicts with federal law. 76. Congress preempted the regulation of commodity futures and swaps trading on CFTC-designated markets, leaving no room for parallel state regulation. Through the CEA, Congress granted the CFTC “exclusive jurisdiction” to regulate “accounts,” “agreements,” and “transactions involving swaps or contracts of sale of a commodity for future delivery” “traded or executed on a contract market” designated by the CFTC. 7 U.S.C. § 2(a)(1)(A). This exclusive grant of jurisdiction includes transactions involving sports-related event contracts. 77. Because federal law occupies the entire field of commodity futures and swaps trading on CFTC-designated markets and/or conflicts with state law, Defendants’ threatened enforcement of Nevada gaming laws is preempted by the CEA and the CFTC’s
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