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Crypto•12 April 2026•

1 min read

CFTC Chair Seeks Exclusive Federal Oversight of Prediction Markets

Key Facts

1CFTC Chair Mike Selig said states do not have the ability to police prediction market providers.

2The agency is echoing its stance as it pursues court cases to cement its authority.

Mike Selig, Chair of the Commodity Futures Trading Commission (CFTC), has asserted that individual states lack the necessary capacity to effectively monitor prediction market providers. This statement reinforces the agency's ongoing efforts to establish exclusive federal oversight through various legal proceedings. The move comes as part of a broader jurisdictional struggle involving federal agencies, including the SEC, and state authorities over the regulation of digital asset markets. Selig's comments highlight the CFTC's intent to consolidate its authority as prediction markets gain popularity in the crypto space. While the stance is consistent with previous agency positions, it underscores the persistent regulatory uncertainty facing market participants. Analysts view this development as a clarification of the regulatory landscape rather than a significant shift in policy.