Commodity Futures Trading Commission (CFTC) Chairman Mike Selig emphasized that the agency will persist in defending its exclusive right to regulate prediction markets through the courts. Selig stated, 'Regardless of whether it involves sports, politics, or any other subject, if it is a product offered within a CFTC-regulated exchange, we have the authority to regulate it.' The CFTC is currently involved in lawsuits against several states, including Arizona, Illinois, and Connecticut, to establish its jurisdiction over prediction markets, which it views as commodity derivatives markets rather than state-regulated gambling services.
