CFTC Chairman: Predicts Market Oversight Authority Exclusive to Federal Government, States Have No Power to Intervene

BlockBeats News, April 13th, during an interview, Chairman of the U.S. Commodity Futures Trading Commission (CFTC) Mike Selig explicitly stated that the CFTC has "exclusive regulatory authority" over prediction markets, and states do not have the right to substitute federal derivatives regulation with state law. Mike Selig emphasized: "Whether the underlying involves sports, politics, or other areas, as long as it is a product offered by a trading platform under CFTC oversight, it falls under our jurisdiction." This statement comes as the CFTC is suing three states, Arizona, Illinois, and Connecticut, to solidify its regulatory dominance over prediction markets.

Selig stated that the CFTC is clarifying the regulations of prediction market oversight through formal rulemaking procedures and welcomes input from all sectors on the evaluation process. In addition to prediction market disputes, Selig also mentioned the final version of the digital asset classification guidance jointly issued by the CFTC and SEC last month, which outlined clear boundaries between tokenized securities and commodities. In the future, if companies want to self-certify digital asset futures products, regulatory agencies can directly determine the nature of the token based on this classification framework, ensuring alignment between the two major institutions.