Federal Registration as Preemption Shield

Federal registration can be used by regulators to claim exclusive authority and block state enforcement against online platforms (here, prediction markets). If accepted by courts, registration becomes not only a compliance mechanism but a defensive shield that shapes who can sue, criminalize or regulate emerging digital marketplaces. — This reframes platform registration as a strategic tool that can centralize regulatory power, constrain state-level legal experiments, and influence how gambling, financial innovation, and speech intersect online.