The Commodity Futures Trading Commission will persist in its defense of 'exclusive regulatory authority' over prediction markets, according to Chairman Mike Selig. In an interview with CoinDesk, Selig emphasized that the agency's regulatory oversight applies to any valid product offered within a CFTC-regulated exchange, regardless of the subject matter.
The CFTC is currently engaged in lawsuits against several states to establish its authority over commodity derivatives markets. Selig noted that a recent Third Circuit Court ruling has bolstered the agency's position, and the CFTC will continue to pursue court cases to cement its authority. The agency is also undergoing a formal rulemaking process to clarify its oversight of prediction markets and is open to suggestions on the matter.