Commodity Futures Trading Commission Chairman Mike Selig emphasized that the agency will persist in defending its exclusive regulatory jurisdiction over prediction markets in court. Selig stated, 'Regardless of the subject, whether sports, politics, or otherwise, if it's a legitimate product offered within a CFTC-regulated exchange, we have the authority to regulate it.' The CFTC is currently engaged in lawsuits against several states, including Arizona, Illinois, and Connecticut, to establish its dominance in overseeing prediction markets.
Selig's remarks were made on the sidelines of the Digital Assets and Emerging Tech Policy Summit, where he underscored the agency's commitment to its regulatory authority.