CFTC Chair Selig said Congress assigned the agency the job of ensuring prediction markets are regulated nationwide under a single federal rule set. In a post on X, he said the Commodity Futures Trading Commission has both the expertise and the legal authority to defend its exclusive jurisdiction over commodity derivatives, and that it will keep doing so. Selig also cited a CFTC announcement saying the agency has filed a lawsuit to block enforcement action in Utah in order to preserve that jurisdiction. The remarks frame prediction markets as an area the CFTC believes should remain under unified federal oversight rather than a patchwork of state-level enforcement.
CFTC Chair Selig said in a post on X that Congress gave the Commodity Futures Trading Commission the responsibility to ensure prediction markets are regulated nationwide under a single federal framework.
Selig said the agency has the expertise and the authority to defend its exclusive jurisdiction over commodity derivatives, and that it will continue to do so.
He also cited a CFTC announcement saying the agency has filed a lawsuit to stop enforcement action in Utah and preserve its jurisdiction.
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