the “states rights” crowd has always used laws passed by Congress, which the CEA has been. other examples such as a Supreme Court overruling itself made a national regulation fall back to the states solely because Congress has not and has never passed a law on the topic, there is insufficient consensus on proposed laws so those topics will remain at the states
in this case, the actual argument is that the case should be heard by the courts at all, and NY wanted to halt operations WHILE it was heard by the courts. CFTC overruled the pre-verdict halting
and finally, the courts of course will likely not result in anything, as the Supremacy Clause of the Constitution is clear that federal law is supreme when there is a conflict, and the CFTC chooses to leverage that
federal government can always choose to ignore a state law, as it does in some markets