CFTC Chair Reaffirms Jurisdiction Over Prediction Markets

The Chair of the U.S. Commodity Futures Trading Commission (CFTC), Mike Selig, reiterated in a post on the X platform that the CFTC has exclusive jurisdiction over prediction markets, as fraud and market manipulation activities are not confined by state lines. Selig pointed out that prediction market exchanges operate as interstate businesses, facilitating buy and sell quotes from clients across the United States. The U.S. Congress has authorized the CFTC to implement uniform regulatory standards to monitor and combat fraud and market manipulation, while also providing protection for client funds involved in interstate transactions.

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