Commodity Futures Trading Commission Chairman Mike Selig emphasized that the agency will persist in defending its exclusive regulatory authority over prediction markets in court. Selig explained, 'Regardless of the subject, whether sports, politics, or otherwise, if a product is validly offered within a CFTC-regulated exchange, it falls under our regulatory purview.' The CFTC is engaged in lawsuits against several states, including Arizona, Illinois, and Connecticut, to establish its authority over commodity derivatives markets.