U.S. CFTC Chairman: Predicts that market-related state lawsuits may ultimately be appealed to the Supreme Court
By: www.chaincatcher.com|05/07/2026 05:48:26
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Michael Selig, the chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated at the Consensus 2026 conference that the CFTC has filed lawsuits against regulatory agencies in about five to six states, including Arizona, Connecticut, Illinois, and New York, with the core dispute being the jurisdiction over prediction markets.
He mentioned that if different circuit courts issue conflicting rulings, the related cases may ultimately be appealed to the U.S. Supreme Court. Michael Selig stated that the Commodity Exchange Act clearly grants the CFTC exclusive regulatory authority over commodity derivatives, and that prediction market event contracts are financial derivatives traded on federally regulated exchanges, which are fundamentally different from traditional gaming venue models.
He believes that some state-level regulatory agencies are attempting to challenge the validity of federal law through local regulations, and the CFTC will continue to file lawsuits against such actions.
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