CFTC Chairman Mike Selig emphasized that the agency will continue to assert its 'exclusive regulatory authority' over prediction markets in court, stating that any valid product offered within a CFTC-regulated exchange falls under the agency's jurisdiction, regardless of the subject matter. Speaking at the Digital Assets and Emerging Tech Policy Summit, Selig underscored the CFTC's position that it has sole regulatory authority over commodity derivatives markets, a stance bolstered by a recent Third Circuit Court ruling. The agency is engaged in litigation to establish that prediction markets provide derivatives products under the Commodity Exchange Act, rather than gambling services regulated by states. Selig noted that the CFTC's view is clear: when a swap is offered on a federally regulated exchange, the transaction is subject to federal regulation, and states cannot supersede this oversight with their own gambling laws.