CFTC Chair Mike Selig argues for agency's 'exclusive regulatory authority' in prediction markets fight: State of Crypto
CoinDesk
CFTC Chair Mike Selig asserts the agency's exclusive right to regulate prediction markets, challenging state-level attempts to restrict these financial derivatives.Summary
CFTC Chairman Mike Selig maintains that the Commodity Futures Trading Commission holds exclusive regulatory authority over prediction markets, regardless of whether the underlying events involve sports or politics. Through active litigation against various states, the agency aims to enforce federal oversight under the Commodity Exchange Act, arguing that states lack the power to supersede federal authority with gambling laws. Additionally, the CFTC is working to clarify its oversight framework and improve coordination with the SEC to prevent jurisdictional conflicts regarding digital assets.
(Source：CoinDesk)