The Commodity Futures Trading Commission (CFTC) will continue to assert its 'exclusive regulatory authority' over prediction markets in court, according to Chairman Mike Selig. In an interview with CoinDesk, Selig emphasized that the agency's jurisdiction applies to all valid products offered within CFTC-regulated exchanges, regardless of the subject matter. The CFTC is currently engaged in lawsuits against several states, including Arizona, Illinois, and Connecticut, to establish its authority over commodity derivatives markets. Selig noted that a recent Third Circuit Court ruling supports the agency's position.
The CFTC is also reviewing comments on its interpretative guidance, published jointly with the Securities and Exchange Commission, to clarify the distinction between commodities and securities in the context of digital assets.