CFTC Chair Vows to Fight State Lawsuits Over Prediction Markets

[madtrader]

Michael Selig, who leads the US Commodity Futures Trading Commission under President Donald Trump, has pledged to push back against what he described as an “onslaught of state-led litigation” targeting prediction market platforms. In a video posted to X, Selig revealed that the agency filed an amicus brief to defend what it calls its exclusive authority over prediction markets, arguing they fall squarely under federal derivatives regulation.

Selig emphasized that the CFTC has overseen such markets for more than two decades, framing them as valuable tools that allow Americans to hedge risks and assess information flows. He made it clear that any state attempting to challenge the agency’s jurisdiction would face a legal response, signaling a growing federal-state showdown over control of event-based trading platforms.

[johnblockbuster]

oh we’re really doing federal vs state over gambling-but-call-it-derivatives now.