CFTC Chairman Says It Will Defend Exclusive Regulatory Authority to Predict Markets and Set Rules

Comparing news, CFTC Chairman Selig posted on social media that Congress has given the CFTC exclusive control over forecasting markets. The CFTC will not only defend its jurisdiction and oppose states' attempts to repeal federal laws and apply state anti-Chinese cuisine laws to designated contract markets (DCM), but it will also exercise that power by establishing clear rules for these markets.

Selig said that the CFTC will actively maintain a unified regulatory framework at the federal level, ensure that the prediction market operates under a clear compliance path, and avoid the impact of state-level anti-Facebook rules on federally regulated DCM.