In an interview with CoinDesk, Commodity Futures Trading Commission (CFTC) Chairman Mike Selig emphasized that the agency will continue to assert its 'exclusive regulatory authority' over prediction markets in court. Selig noted that the type of event being predicted, whether sports, politics, or otherwise, does not affect the CFTC's jurisdiction as long as the product is offered within a CFTC-regulated exchange.
The chairman's comments come as the CFTC pursues lawsuits against several states to establish its authority over prediction markets, which it considers commodity derivatives markets rather than gambling services regulated by individual states.