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 jurisdiction 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 to establish its authority in this area. Selig noted that a recent Third Circuit Court ruling supports the agency's position. The CFTC is also in the process of clarifying its oversight of prediction markets through formal rulemaking and is open to suggestions on this process.