The Commodity Futures Trading Commission will continue to assert its regulatory authority over prediction markets, according to Chairman Mike Selig. In an interview with CoinDesk, Selig emphasized that the agency's authority applies to all validly offered products within CFTC-regulated exchanges, regardless of the underlying event.
The CFTC is currently engaged in lawsuits against several states, including Arizona, Illinois, and Connecticut, to establish its exclusive regulatory authority over commodity derivatives markets. Selig pointed to a recent Third Circuit Court ruling as bolstering the agency's position.
The CFTC is also involved in a formal rulemaking process to clarify its oversight of prediction markets and is considering feedback on its interpretative guidance with the Securities and Exchange Commission.