According to Commodity Futures Trading Commission Chairman Mike Selig, the agency is committed to upholding its 'exclusive regulatory authority' over prediction markets through court proceedings. Selig stated, 'Regardless of the subject matter, whether it's sports, politics, or anything else, if it's a valid product offered within a CFTC-regulated exchange, then it falls under our regulatory purview.' The CFTC is currently engaged in lawsuits against several states, including Arizona, Illinois, and Connecticut, to assert its authority over prediction markets, which it believes are subject to federal regulation as commodity derivatives markets rather than state-regulated gambling services.