Attorney General Josh Kaul is going after companies state officials believe are exploiting loopholes around gambling. The lawsuit names five companies, including Kalshi, Polymarket, Robinhood and Coinbase. 

Kaul says because those prediction markets let people make investments tied to the outcome of sporting events, it's basically a way around sports gambling laws. 

However, the Commodity Futures Trading Commission says it's already regulating those companies. 

The agency argues Wisconsin's lawsuit is interfering with federal law. 

The commission has filed similar lawsuits in response to actions other states have taken, including New York and Arizona.