CFTC Chairman states that it will defend exclusive regulatory authority over prediction markets and establish rules

CFTC Chairman Selig stated on social media that Congress has granted the CFTC exclusive regulatory authority over prediction markets. The CFTC will not only defend its jurisdiction against attempts by states to abolish federal laws and apply state anti-gambling laws to designated contract markets (DCM), but will also exercise that power by establishing clear rules for these markets.

Selig indicated that the CFTC will actively maintain a unified regulatory framework at the federal level, ensuring that prediction markets operate under a clear compliance pathway, avoiding the impact of state-level anti-gambling rules on federally regulated DCM.