I haven't explored the CPS topic deeply, so I cannot really answer. As far as I understand, CPS preserves the state of the program or stack information by storing it in closures that are ready to be called at any time, whereas a condition system simply does not unwind the stack by simply not unwinding it and executing on top of the already existing stack, ready to both return control to the signaling code and to transfer it somewhere up the stack.

In its nature, a condition system is simply a means of executing code that has been provided dynamically, including transfers of control. I think that a closer term would be algebraic effects, which seem to be an equivalent of a condition system in a strictly typed strictly functional world.