CFTC Chairman Mike Selig emphasized the agency's exclusive regulatory authority over prediction markets during a recent event. He stated that the CFTC will continue to pursue legal action against states that challenge this authority.
Speaking at the Digital Assets and Emerging Tech Policy Summit, Selig reiterated that states lack the ability to regulate prediction market providers. He highlighted ongoing lawsuits against Arizona, Illinois, and Connecticut as evidence of the CFTC's commitment to defending its jurisdiction over commodity derivatives markets.