Release of the market structure bill is delayed again and the CFTC sue several states over prediction markets.

This is CoinDesk Daily. I'm Jen Snessy.

The fight over stable coin yield is still playing out behind closed doors.

Sources told Coin Desk representatives from both the crypto and banking industries are meeting

with legislative staffers working to hammer out compromise language for the market structure

bill.

The current proposal led by Senator Angela Alstrokes and Tom Tillis would ban yield paid

solely on holding stable coins while still allowing companies to offer

yield tied to specific activities. The crypto industry is now pushing for technical adjustments to

that language, contributing to delays in releasing the bill's official text. Lawmakers are still

aiming for a mark appearing later this month, but key issues, including decentralized finance and political integrity,

remain unresolved. The CFDC and the Justice Department are suing Illinois, Arizona, Connecticut,

and several state officials over efforts to shut down prediction markets. Multiple states have

issued cease and assist orders arguing these platforms amount to illegal sports betting.

But federal regulators are pushing back, saying prediction markets qualify as swap products,

which fall under exclusive federal jurisdiction. In response, a spokesperson for Illinois

Governor J.B. Pritzker accused the Trump administration of siding with companies running what

they called lucrative insider

trading schemes at the expense of consumer protection. Meanwhile, the CFTC is set to appear

before the Ninth Circuit later this month in a consolidated appeals case involving Calci,

Robin Hood, and the North American derivatives exchange. And the U.S. labor market just added a massive

178,000 jobs in March,

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